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11/10/2020, 3:52 PM (Source: TeleTrader)
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Ford to invest $100M in all-electric van production

Ford Motor announced on Tuesday it intends to position $100 million in a plant in Missouri in order to make an all-electric version of its Transit van, which should be shown publicly on Thursday. The company added it will enlarge the production of the all-electric F-150 by 50%.

The funding comes as a part of Ford’s investment that is bigger than $11.5 billion and is intended for producing electric vehicles in 2022. The investment also includes $3.2 billion which are put aside for new all-electric vehicles such as the Transit van and an EV version of the F-150 pickup.

Ford president, Americas and international markets group Kumar Galhotra stated: "We’re taking our most iconic vehicles and using fully electric technology to deliver even more performance, productivity and capability for customers. This is just the first chapter with more new electric vehicles and more investment to come."

Breaking the News / TF