Ford Motor Co. is supercharging its investment in electric vehicles, even as sales have slumped in an era of $2 gasoline.
The automaker said Thursday it will invest $4.5 billion in electric vehicle research and add 13 new EVs by 2020 to give buyers more choices and to conform to strict federal fuel-efficiency standards. It’s Ford’s biggest investment over a five-year period in the technology to date.
Ford’s current portfolio includes six hybrid or all-electric vehicles across its Ford and Lincoln brands. By 2020, Ford said 40 percent of its nameplates worldwide will be electrified, up from about 13 percent today. Ford declined to say if any of the 13 new EVs would be self-driving.
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