Ford to invest $4.5bn in EV technologies

Ford has announced it will invest $4.5 billion (£2.9bn) in electric vehicles (EVs) by 2020. The car manufacturer said it will add 13 new EVs to its portfolio. It hopes more […]

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By Jacqueline Echevarria

Ford has announced it will invest $4.5 billion (£2.9bn) in electric vehicles (EVs) by 2020.

The car manufacturer said it will add 13 new EVs to its portfolio.

It hopes more than 40% of its global fleet will be electrified during the same period.

Ford will launch a new Focus Electric model next year which it claims will charge 80% in around 30 minutes.

The car will also project 100-mile range in two hours, which is faster than the current electric model, according to the company.

It plans to expand its EVs in growing markets, including Taiwan, Korea and China.

The company will also invest $2.1 million (£1.3m) in a battery laboratory at the University of Michigan to boost research and development.