Ford to invest $4.5bn in electric cars

Ford says it will invest $4.5bn (£3bn) to expand its fleet of plug-in and hybrid electric vehicles, and will start selling 13 new electric models by 2020, reports BBC.
That will include a new Ford Focus that charges more quickly and has a longer range, the US car giant said.
It also intends to move into the commercial ride-hailing market occupied by firms such as Uber and Lyft.
The market is worth $5 trillion, the company said.
The initiatives are part of a broader effort by chief executive Mark Fields to counter firms offering alternatives to car ownership and regulators who want vehicles to emit less carbon dioxide.
Mr Fields said the company wants 40% of its vehicles to have electric versions by 2020, up from 13% now.
The new Focus will take an 80% charge in 30 minutes, about two hours faster than the current version, Ford said. It will also have an estimated 100-mile range, as opposed to 76 miles.

Ford to invest $4.5bn in electric cars

Ford says it will invest $4.5bn (3bn) to expand its fleet of plug-in and hybrid electric vehicles, and will start selling 13 new electric models by 2020, reports BBC. That will include a new Ford Focus that charges more quickly and has a longer range, the US car giant said. It also intends to move into the commercial ride-hailing market occupied by firms such as Uber and Lyft. The market is worth $5 trillion, the company said. The initiatives are part of a broader effort by chief executive Mark Fields to counter firms offering alternatives to car ownership and regulators who want vehicles to emit less carbon dioxide. Mr Fields said the company wants 40% of its vehicles to have electric versions by 2020, up from 13% now. The new Focus will take an 80% charge in 30 minutes, about two hours faster than the current version, Ford said. It will also have an estimated 100-mile range, as opposed to 76 miles.