On Monday, 27th September 2021, the automobile company ‘Ford Motors’ has announced that, the company is going to be investing billions of dollars in the production of the electric vehicles in the United States of America.
The company ‘Ford Motors’ has also announced that, it is going to build three battery factories and one plant to produce the electric trucks in the United States, that is going to be producing 11,000 jobs in the upcoming four years.
The announcement made by the company ‘Ford Motors’ has been a multi-dollar move for the purpose of jumping to the electric vehicles and stopping the cars and trucks powered by the gasoline, which has been a part of an initiative for supporting the global effort for fighting the climate change.
The company ‘Ford Motors’ and a supplier from South Korea is going to be spending 11.4 billion dollars on the project, and William C. Ford Jr., executive chairman of ford said, he thinks that, the industry has been on a fast road to the electrification and those who are not, they are going to be left behind.
The automobile company has been in the race for catching up with Tesla, an electric car manufacturing company in the United States, that has been all set for selling over 8,00,000 electric cars in the year 2021, and the company Tesla is also having a market capitalization of around 800 billion dollars, whereas the market value of Ford stands at 56 billion dollars.
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