Ford Motor Company (F) To Increase Its Spending On Electric Vehicles By $4.5 Billion

Ford Motor Company (NYSE:F) will boost its spending on the electric vehicles by $4.5 billion. For that purpose, the company disclosed a new Focus Electric featuring a fresh direct current (DC) fast-charge capacity.

Battery Charging Capacity

Ford Motor Company (NYSE:F)’s latest move enables the battery to be recharged by as much as 80% of its capacity in approximately half-an hour. That would provide an estimated 100-mile range mileage. Also, that was two hours quicker than the current Focus Electric’s capability. The company expects the new Focus Electric to go into production in the later part of the next year.

On the other hand, Tesla Motor Inc (NASDAQ:TSLA)’s Supercharge technology takes 40 minutes to achieve 80% of charging capacity. However, its 30-minute charge enables the vehicle to travel a mileage of about 170 miles. The electric vehicle maker unveiled its open-sourced technology last year with a hope to attract any car makers if they wanted to replicate it.

New Instrument Cluster

It is also reported that Ford Motor Company (NYSE:F) has plans to launch a fresh instrument cluster for its electric vehicles. It would provide a number of customizable displays that would be of great help to drivers to see electric vehicle’s power usage on a real-time basis. This should enable the drivers to optimize the efficiency of the vehicle. The company would also add Brake Coach to advise drivers on the ways to use smooth braking to optimize the energy generated from its regenerative braking system.

Ford Motor Company (NYSE:F)’ EVP for product development, Raj Nair, said that the challenges lie ahead are not just providing the technology. However, how best the technology can be organized matters so that people will be excited. He said that the company was able to understand the strengths of its features by observing its consumers as that provide them better experiences.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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