Ford plans USD 11 billion investment in electric cars

The US car manufacturer is planning to have a combination of 40 hybrid cars and electric cars in its portfolio by 2022. The key to the success of electric cars lies in the well-known models, says the president.

Once a leader in fossil fuel powered cars, Ford is increasingly offering its customers more environmentally friendly options.

From 2022, Ford is planning investments of USD 11 billion to bring 40 hybrid and electric cars onto the market. 24 of the models will be plug-in hybrids, while 16 will run exclusively on electricity. The new plans were announced by the manufacturer's President Bill Ford Sunday at a large-scale auto show in Detroit, reports Reuters.

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