Saturday, July 27, 2024

Ford is accelerating the transition to electric cars in a historic investment

Date:

The US Ford Group provided a major impetus for the transition to electric cars, announcing on Monday it plans to create four factories in the United States with its South Korean partner SK Innovation and $ 11.4 billion in investment. 2025.
Ford has announced plans to set up two battery factories in Kentucky in Central America and a third in West Tennessee, one car plant that will begin producing electric cars by 2025.

The group will invest $ 7 billion of the $ 30 billion investment announced earlier this year, with SK Innovation securing the remaining amount.

Ford pointed out that in its 118-year history it was the largest investment to establish new manufacturing plants.

“According to the Paris Climate Agreement, the investment is in support of the company’s long-term goal of creating a stable U.S. business environment and accelerating growth towards carbon neutrality,” he explained.

Ford has raised production targets for electric cars, expecting electric cars to fully reflect 40 to 50 percent of its global sales by 2030, up from 40 percent in its spring forecast.

“This is a transformational moment that will lead to the transformation of Ford electric vehicles in the United States and into a new era of clean, carbon-neutral production,” said Bill Ford, Group CEO.

He added that the group would reconcile what was once considered inappropriate: protecting the planet while contributing to America’s prosperity and creating “the cool electric cars that Americans want.”

See also  Dubai International has recorded the highest growth rate in the list of 20 largest airports in the world
Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Embrace the Adventure: Discover Dubai’s Dune Buggy Tours

Introduction to the Dubai Dune Buggy Tour Buckle Up, Adventure...

Why Estonia is the Perfect Launchpad for Luxury Brands

The world of luxury fashion is synonymous with elegance,...

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...