Ford Invests $450 Million More In Electric Vehicles

published: 2010-05-13 14:47 | editor: | category: News

Ford Motor Company announced it will invest an additional $450 million in its aggressive electric vehicle plan, paving the way to build a next-generation hybrid and plug-in hybrid vehicle in Michigan beginning in 2012 and creating 1,000 new jobs.

This comes in addition to Ford’s already announced plans to invest $550 million to transform Michigan Assembly Plant from a large SUV factory to a modern car plant to build the all-new Focus starting in 2010 and Focus Electric pure battery electric vehicle in 2011. With today’s news, Ford’s Michigan Assembly Plant in Wayne, Mich., will be the production site of hybrid, plug-in hybrid and full battery electric vehicles, all of which will be built off the company’s new global C-car platform.

“This investment underscores how serious we are about delivering a range of electrified vehicles to customers – including hybrids, plug-in hybrids and pure electric vehicles,” said Bill Ford, Ford’s executive chairman. “Our industry is at the intersection of three critical global issues – the economy, energy and the environment. The winning companies will be those that address these issues with vehicles that are also exciting and fun to drive, without compromises.”

In addition to building the Ford Focus Electric and next-generation hybrid and plug-in hybrid at Michigan Assembly Plant, Ford said it is bringing battery system design and development in-house.

Ford will design advanced lithium-ion battery systems in-house for the next-generation hybrid in Michigan and move production of the battery packs from Mexico to Michigan. The production site will be announced at a later date.

In addition, Ford has announced it will produce hybrid transaxles at its Van Dyke Transmission facility in Sterling Heights, Mich., beginning in 2012.

Partnering with the state of Michigan has been critical to the acceleration of the electric vehicle plan, Ford said. Today, the Michigan Economic Growth Authority board approved a package of incentives and tax credits totaling $188 million. The package includes job credits, brownfield site credits and battery pack assembly credits recently approved by the Michigan legislature.

“Vehicle electrification is part of our ongoing strategy to diversify Michigan’s economy and make the state a center for green and advanced manufacturing,” said Michigan Gov. Jennifer M. Granholm. “That is why we have worked so hard to invest in and encourage development of battery and electric vehicle technology and production in the state. We applaud Ford’s leadership and commitment to Michigan and our transportation future.”

announcements add announcements     mail print
Share