Friday, 19 October, 2018

Ford plans to invest 11 billion United States dollars in development of electric cars

2018 Detroit Motor Show Mc Queens Bullitt Mustang reimagined 1/9 Fullscreen
Frank Williams | 16 January, 2018, 05:56

"If we want to be successful with electrification, we have to do it with vehicles that are already popular", Bill Ford said.

"This $11 billion you're seeing, that means we're all-in now", Executive Chairman Bill Ford told reporters in Detroit.

Ford will shell out $11 billion on new electric technologies. His deputy James Hackett vowed to cut costs and eliminate some of the cars in the series to redirect the company's future to pickup, SUV and electric vehicles. "The only question is whether customers will be with us and we think they will", added he.

Tesla Inc (TSLA.O)'s success in creating electric sedans and SUVs that inspire would-be owners to line up outside showrooms and flood the company with orders.

While Tesla is the most prominent electric vehicle maker, "soon it will be everybody and his brother", Daimler AG Chief Executive Dieter Zetsche told reporters on Monday at the Detroit show.

With reduced battery costs and increased regulatory requirements worldwide for internal combustion engines, the vehicle manufacturers are stepping up their investments on wholly electric models. General Motors, Toyota and Volkswagen have already outlined ambitious plans to offer more electric vehicles.

Trump blasts Democrats over immigration as feds resume DACA renewals
Durbin, Flake and Graham have been part of ultimately unsuccessful bipartisan immigration talks that date back to at least 2006. But so far, the proposal has not won key White House support.

But U.S. and German auto executives said in interviews on the sidelines of the Detroit auto show that the bulk of those investments are earmarked for China, where the government has enacted escalating electric-vehicle quotas starting in 2019.

Jim Farley, global markets president, asked the audience at Ford's flashy NAIAS presentation: "Can a battery electric vehicle stir the soul?"; before revealing the new hybrid version of its F-150 pickup truck, and teasing the arrival of its Mach 1 battery sports auto. The company will begin production of a hybrid version of its popular F-150 truck at a plant in Dearborn, Michigan, in 2020.

Ford's shift to the electric vehicle strategy has been more than six months in the making after Hackett replaced former Chief Executive Mark Fields in May. Ford plans to invest up to 11 billion United States dollars in the development of electric cars.

Mr. Ford said the company plans on delivering 16 fully electric and 24 plug-in hybrid vehicles to the public over the next five years.

Mainstream automakers also are reacting in part to pressure from regulators in Europe and California to slash carbon emissions from fossil fuels.

"What's it going to take to get to 4 to 5 percent" share for electric cars, Lentz said.

Recommended

  • Sunken tanker leaves 13-kilometre oil slick in East China Sea

    Sunken tanker leaves 13-kilometre oil slick in East China Sea

    After the rescue operations failed to save the lives of the sailors on board or extinguish the fire, the tanker sank completely. The 120 sq km (46 sq mile) oil slick is thought to be made up of heavy fuel that was used to power the vessel.
    France's Mathieu Bastareaud may miss Six Nations after using homophobic slur

    France's Mathieu Bastareaud may miss Six Nations after using homophobic slur

    It was picked up on the live feed and the minimum ban for verbal abuse is 6 months while the maximum ban is 12 months. Should Bastareaud face a disciplinary hearing then he would face a ban of at least six weeks, if found guilty.
    Recently hired Ken Norton Jr

    Recently hired Ken Norton Jr

    But Garafolo reports that Norton has an out in his contract that allows him to return to Seattle as defensive coordinator. Norton Jr. joined the 49ers after serving two and a half seasons as the defensive coordinator for the Oakland Raiders.
  • Ashleigh Barty out to join Aussie Open party

    Ashleigh Barty out to join Aussie Open party

    Toni has departed to focus on his nephew's tennis academy but Nadal said their relationship remained intimate and "easy". However, the former world number one insisted he is far from favourite to take out the 106th Australian Open .
    Koreas progress in talks despite North's threats

    Koreas progress in talks despite North's threats

    North Korea is planning to send a large delegation to the Olympics in addition to the athletes and performance group. As a result, South Korean pair Kim Kyu-eun and Kam Kang-chan became eligible to perform at Pyeongchang .
    Clinical Manchester United leave Paul Lambert with uphill task at Stoke

    Clinical Manchester United leave Paul Lambert with uphill task at Stoke

    The France forward didn't hesitate in meeting it with a first-time shot that bent beyond the grasp of Stoke goalkeeper Jack Butland.
  • Nigeria summons US Ambassador over Trump's

    Nigeria summons US Ambassador over Trump's "Shithole" comment

    The Obama-era programme, known as DACA, will begin winding down in March unless Congress and Trump can agree on a bill. The US President was said to have made the remarks at a private meeting with lawmakers on immigration on Thursday.
    Danica Patrick Confirms Romantic Relationship With Aaron Rodgers

    Danica Patrick Confirms Romantic Relationship With Aaron Rodgers

    Patrick plans to retire from racing this season after competing in the Daytona 500 and Indianapolis 500. The dating rumors continued when the duo were spotted having dinner together on Saturday, January 13.
    ChristIan Wilkins Is Returning To Clemson

    ChristIan Wilkins Is Returning To Clemson

    The Tigers did lose a few offensive players to the draft, most notably junior receivers Deon Cain and Ray-Ray McCloud. Clemson had 46 sacks in 14 games in 2017 and Wilkins, Lawrence and Ferrell were first-team All-ACC selections.
  • This Voldemort Fan Film Deserves An Official Spin-off

    This Voldemort Fan Film Deserves An Official Spin-off

    For example, did you know Warren Beatty was nearly cast in Boogie Nights? Fan works don't get much better than this. Rowling or Warner Bros., the studio behind the Potter film adaptations.
    PC Sales Decline for the Sixth Year in Row

    PC Sales Decline for the Sixth Year in Row

    For all of 2017, HP led in shipments with 55.16 million units for a market share of 21%, just ahead of Lenovo's 20.8% share. The 2017 holiday quarter was a positive one for the PC market , according to the latest estimates from analysts at IDC .
    Belgium: Explosion collapses building, injures up to 20

    Belgium: Explosion collapses building, injures up to 20

    Local resident Brett Buelens told VTM Nieuws: "I heard people calling from under the rubble". Antwerp police added via Twitter that the explosion was not linked to terrorism in any way.

Man arrested for threatening to kill players, fans at Steelers-Jaguars game Man arrested for threatening to kill players, fans at Steelers-Jaguars game It's the third time in franchise history the Jags are in the AFC title game; they lost it following the 1996 and 1999 seasons. In heavy personnel (2RB/2TE/extra OL), the Jaguars kept nine players in protection and had Shatley flare right at the snap.

Eddie Howe "delighted" with attitude of Bournemouth players Eddie Howe Petr Cech has taken the blame for his part in Callum Wilson 's goal during Arsenal's 2-1 loss to Bournemouth on Sunday.

Turns out your Chromecast could be killing your home network Turns out your Chromecast could be killing your home network In other words, devices like Chromecast and Google Home are basically DDoSing your router with more requests than it can handle. Some are also installing the latest beta of Google Play Services ( opt-in here ), assuming that Google may have patched this.

Poppi Worthington inquest: Toddler suffered injuries caused by sexual assault, coroner rules Poppi Worthington inquest: Toddler suffered injuries caused by sexual assault, coroner rules The startling revelation came as Worthington spoke from behind a 7ft screen in the courtroom. And Roberts told the BBC that her father's account of events did not "stand up to scrutiny".

Kris Jenner Worries About People Trying To Exploit Kylie Jenner Kris Jenner Worries About People Trying To Exploit Kylie Jenner If she ends up having her baby soon, hopefully, she will end up sharing the news with the fans once the baby is born. For now, they are just going to have to wait on Kylie Jenner to be ready to share the news with them.

Moves Nintendo Needs to Make to Win 2018 Moves Nintendo Needs to Make to Win 2018 You and a friend can team up and bust out of jail together, or you can work against one another, if you're feeling competitive. There was a Nintendo Direct Event held earlier this week and it was jam packed with a load of news to start of the new year.

Analysts Set Expectations for JPMorgan Chase & Co.'s FY2017 Earnings (JPM) Analysts Set Expectations for JPMorgan Chase & Co.'s FY2017 Earnings (JPM) Baird maintained it with "Hold" rating and $92.0 target in Wednesday, November 15 report. (NYSE:JPM) rating on Friday, January 15. JPMorgan Chase & Co is a financial holding company. $261,268 worth of stock was sold by SWAN MARA E on Wednesday, August 16.

Bannon Hires Quinn Emanuel Atty For House Russia Probe Bannon Hires Quinn Emanuel Atty For House Russia Probe In October 2016, Drake became the 14th woman to accuse Trump of sexual harassment or assault before the election. But Trump left the door open when asked if the relationship was over permanently.

'Russia Ready to Support Direct Talks on N. Korea Crisis' 'Russia Ready to Support Direct Talks on N. Korea Crisis' The Foreign Minister considers that the Karabakh issue "cannot be solved once and for all with a single document". According to a report in Canada's National Post newspaper.

Sanchez, Mkhitaryan look set for swap deal Sanchez, Mkhitaryan look set for swap deal Arsene Wenger said on Sunday he expected a conclusion to the transfer saga within 48 hours. It was a bit hard for him because he was on standby, a little bit.

Hawaii Employee Who Triggered Missile Alert Gets A New Job Hawaii Employee Who Triggered Missile Alert Gets A New Job A false alarm warning people to seek shelter because of an incoming ballistic missile sent Hawaii into a panic Saturday. Hawaiian emergency management officials said the original message was mistakenly sent out. "What do you do", she said.

Wind Chill Advisory in effect for Tuesday morning Wind Chill Advisory in effect for Tuesday morning Monday through Tuesday morning - Wind chill values during this time will lower to between 25 below and 40 degrees below zero. Highs will top out near 11 degrees, with winds out of the northwest up to 15 miles per hour .

Sony Open leader Tom Hoge takes stock after Hawaii missile scare Sony Open leader Tom Hoge takes stock after Hawaii missile scare The message: "Ballistic missile threat inbound to Hawaii". "I took a lead going into the final day and played well the whole way". Kizzire had to watch three times as Hahn had a putt to win, two of those putts from 6 feet and 10 feet on the par-5 18th hole.

Mudslides cause devastation in California as death toll rises Mudslides cause devastation in California as death toll rises After a better damage assessment earlier in the week, a total of 64 homes were destroyed, while 300 to 462 were damaged. The storm sent flash floods cascading through mountain slopes that were burned bare by a huge wildfire in December.

Chile's Catholic churches attacked ahead of papal visit Chile's Catholic churches attacked ahead of papal visit Crowds were notably thin, particularly compared to papal visits in other Latin American countries. The Pope will also meet victims of Augusto Pinochet, whose dictatorship lasted from 1973 to 1990.