Electric Car Stock News: Ford (NYSE:F) Bets on Electric Vehicle Market
Category: Investment, Electric Car, Renewable Energy
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News about Ford Motor Company
New York, NY - August 17, 2012 (Investorideas.com newswire renewable energy/ green newswire) Investorideas.com, a leader in renewable energy stock research for independent investors, issues an alert for electric car stocks following news this week from Ford (NYSE: F), that they are doubling their battery-testing capabilities and speeding electrified vehicles to market by at least 25 percent.
Ford also reported "The company now has more than 1,000 engineers working on electrification - its highest number ever."
The Company is putting its money where its mouth is betting on the electric car division.
Ford is investing $135 million in the design, engineering and production of key components - including advanced battery systems - for its next-generation hybrid-electric vehicles going into production this year.
Also, Ford is dedicating a 285,000-square-foot research and development lab in Dearborn, Mich., to focus almost entirely on hybrids and electrification. The building formerly known as the Advanced Engineering Center is renamed the Ford Advanced Electrification Center and houses most of the 1,000 engineers working on hybrid and electrification programs.
The stock is trading at $9.64, up 0.05(0.54%) 12:03PM EDT on over 17 Million shares with a high of $9.78. The 52 week range for the stock is $8.82 - 13.05.
About Ford Motor Company
Ford Motor Company (NYSE: F), a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 168,000 employees and about 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit http://corporate.ford.com.
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