The money would be used to convert gasoline factories to produce electric cars.
American the carmaker Ford Motor plans to invest up to USD 20 billion (approximately EUR 18 billion) in the production of electric cars, says news agency Bloomberg.
According to unnamed Bloomberg sources, Ford’s additional investment of 10-20 billion would be spread over the next 5-10 years.
The money would be used to convert existing gasoline car factories around the world to produce electric cars.
A former CEO of Apple and Tesla has been hired to lead the change. Ford also plans to hire new engineers specializing in battery chemistry, artificial intelligence and electric car software.
According to Bloomberg, the company has also explored the possibility of splitting part of the electric car business into a separate company, which would reveal to investors the value of Ford’s electric car business.
The new company would focus on low-volume electric car models. Ford would be left with production of high-volume electric car models.
#Cars #Bloomberg #Ford #plans #invest #billion #electric #cars
