Archive for January 26th, 2010
Ford, GM pony up big bucks for EV batteries and motors
Ford says it will invest another $450 million in electric vehicle development and facility retooling, bringing its total investment in this area to a round $1 billion.
The latest monetary infusion, a part of its “Electrification Strategy,” paves the way for the Dearborn, MI, carmaker plan to engineer, produce and launch new electrified vehicles, battery systems and hybrid transaxles, while creating up to 1,000 new jobs in the state.
GM is also planning to spend big dollars, about $246 million, for electric motor and hybrid component production at a Baltimore facility.
Ford will build what it calls its next-generation hybrid vehicles and plug-in hybrid vehicles at the Michigan Assembly Plant beginning in 2012, in addition to producing the new Ford Focus and Focus Electric at the same plant in 2010 and 2011, respectively.
