HomeBusinessFord to invest up to US$20 billion in EV push: Bloomberg News

Ford to invest up to US$20 billion in EV push: Bloomberg News

Ford Motor Co is planning new funding of up to US$20 billion in constructing its electrical autos, Bloomberg News reported on Tuesday.

The further funding will likely be unfold out over the subsequent 5 to ten years and can embody changing its current factories around the globe to electric-vehicle manufacturing, the report stated, citing folks conversant in the plan.

The EV push is being led by a former Apple Inc and Tesla govt who joined the auto maker to steer its superior expertise and embedded techniques efforts, the report added.

Ford was not instantly accessible for remark.

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