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Tag: electric cars

Ford plans to pump $30 billion into electric vehicle investment by 2025

CNN – Ford announced Wednesday that it will invest $30 billion in electric vehicle development efforts by 2025. The automaker also pledged that 40% of its vehicles sold by 2030 will be electric. Ford had previously announced plans to spend $22 billion on electrification efforts and had recently revealed plans to build two new battery factories in a joint venture with Korean battery maker SK innovation. Last week, Ford also unveiled plans for an all-electric version of the F-150 pickup, the best selling vehicle from any US automaker. It has already started selling an electric SUV under...

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Hyundai & Kia spend $7 billion in US electric car push

Hyundai and Kia are pouring billions of dollars into the United States, where they plan to start building electric cars and invest more in futuristic technologies. The South Korean carmakers announced Thursday that they would invest $7.4 billion in the country over the next four years, CNN reports. The funding will help the companies gradually expand manufacturing, though they said in a statement that exact plans have yet to be finalized. Hyundai aims to kick off electric vehicle production in the United States next year. The move bolsters the automaker’s presence stateside, where it already...

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