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Aug 22

Ford Plans to Invest $135 Million in Electric Vehicle Development

Ford-focus-EV - electric vehicle developmentWhen electric cars first made their way into the automotive industry, what was the first thing that came to your mind? Did you think that they would become as popular as they are? Definitely, as the eco-friendly movement continues to evolve, it would appear that electric cars are not going anywhere anytime soon.

And with good reason. There are a myriad of reports that support the fact that electric cars save money (due to the need for much less fuel and because they have longer lasting batteries) and that they significantly cut down the amount of emissions (and noise) that goes out into our environment with fuel-operated vehicles. And, if you’re an owner of one, Uncle Sam even gives you a break by providing you with a tax credit for the electric cars that qualify (look up IRS Form 8834 for details).

So, perhaps all of these are a big part of the reason why Ford Motor Co. recently announced their plans to invest over $135 million into future electric vehicle developments. More specifically, Ford will be investing that amount into the design and engineering of electric vehicles, along with advancing the batteries of them; the aim is to double their battery testing capabilities by next year.

It is Ford’s hope that the investment will pay off by providing more hybrid selections to choose from among prospective buyers, while bringing electric cars to the overall market at least 25 percent faster than it currently is doing. It is also the automaker’s plan that there will be approximately 1,000 engineers who will be devoted solely to the field of electrical vehicle development. To support this transition, Ford’s Advanced Engineering Center’s name will be changed to the Ford Advanced Electrification Center. As a matter of fact, reportedly, Ford has recently added 60 more engineers to this project with plans of hiring more in the near future.

It would appear that the long-term goal of this is “the sky is the limit”, but within the next decade (more specifically, by 2020), it is Ford’s goal to have at least 10 to 25 percent of its global fleet of cars ones that have been crafted by plug-in or some form of hybrid technology, with that lineup being comprised of 70 percent hybrid, close to 25 percent plug-in hybrid, and the remaining 5 percent catering to a niche market for all-electric cars.

As for this year, it has been off to a good start. In 2012, there were three hybrid and three electric cars that were made available to the public, including the all-electric Ford Focus model. In 2013, Ford plans to premiere the plug-in Fusion along with what they are calling the “C-Max Series” (which will be available as both plug-in and hybrid versions).

So, if you’ve been considering getting a good old American-made electric vehicle, this would be a good time to do it. Be sure to check out some online insurance quotes now because you might be able to get a good deal on them as well. Seemingly, all of the world is supporting “going electric”. Pardon the pun, but be sure to stay “plugged in” to the upcoming developments.

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