Ford invests $135 million in electric cars

interns Contributor

May 24 (Bloomberg) — Ford Motor Co., working to make a quarter of its vehicles run at least partly on electricity, plans to invest $135 million and add 220 jobs at three Michigan facilities to help it introduce five such models by 2012.

About 50 engineers will be hired for a research and development center to be created in the Detroit area, John Stoll, a Ford spokesman, said today in an interview. Ford plans to add 170 production workers at two Michigan plants, he said.

Ford has said it will begin selling two electric vehicles and three new hybrids by 2012 and that such models will constitute 10 percent to 25 percent of its worldwide fleet in a decade. Automakers are developing models powered entirely or in part by electricity to meet U.S. fuel-economy standards.

“Ford has been at the forefront of layering this new technology into their vehicles,” Michael Robinet, an auto- industry analyst with CSM Worldwide in Northville, Michigan, said in a telephone interview.

Full story: Ford Invests $135 Million, Adds 220 Electric-Car Jobs (Update4) – BusinessWeek