According to the report of Bloomberg News, the purpose of this plan, called ‘Ford +’, is to advance Ford as a technology company as well. Ford has already planned to spend $30 billion (about Rs 2,24,860 crore) on EVs, including battery development, by 2030. The company’s electric vehicles unit is headed by Doug Field, a former Apple and Tesla executive who joined the company last year.
Big automobile companies like General Motors, Ford and Volvo are trying to increase their share in the EV segment. The biggest rival for these companies is Tesla. Ford has also considered the option of divesting a part of its EV business. This can help the company in getting investment. The company also plans to hire engineers to work on concepts such as artificial intelligence, battery chemistry and EV software. A Ford spokesperson said: “We’re following the Ford+ plan to make a big difference to the company. We’re trying to increase our stake in connected, electric vehicles.”
Tesla ranks first in the electric car market. Tesla expects EV deliveries to grow by more than 50 percent this year. However, the company believes that the supply chain problems are not expected to end this year. Tesla’s fourth quarter revenue exceeded Wall Street estimates. Tesla CEO, Elon Musk recently said that the company will not launch new models this year. The Cybertruck and Roadster are expected to launch next year. Tesla plans to start selling electric cars in India as well. However, the company has requested the central government to reduce the import duty for this.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)<!–
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