"Like a rock" indeed. Ford's been around for quite a while, so they do see the writing on the wall. As an American hopeful brand of automotive tech and manufacturing, they would be daft to not even consider the coming innovation that is EV (electric vehicle). For all intents and purposes, this is a tech that's cleaner, faster, easier and potentially cheaper than your traditional engine. You'd still be surprised, however, that Ford only for some time has had just one North American plant in operation.
No More, Though, as Ford Has Invested $11 Billion for Another North American EV Plant
In other words, Ford means business. And they should as we have a wealth of heavy hitters wanting in one the game, even countries. Ford as it stands right now is the number 2 automaker in the United States, so they have to remain competitive. By investing $900MM in southeast Michigan and building a hefty 900 jobs, they're poised to move forward with even more in $850MM in expansion at Flat Rock, MI.
That's two locations in the Mitten -- the state will now be considered an EV central hub.
That's Not All, Though -- Ford Will Be Going to Germany as Well
Wait, what? That's correct: Ford will even be working on an alliance with Germany's Volkswagen AG, developing EV and even self-driving technology. For something that a little known company called Tesla thought of and that many laughed at, seeing that Ford, of all companies, plugging in would definitely be a game changer, much less allying with a German auto brand.
The underlying image here is that the automotive industry's collaborating now more than they are competing, and that's a great thing for the consumer, the soon-to-be driver.
Expect the First Self-Driving Vehicles From Ford Very Soon
They will be in production starting 2021. It's coming up. What do you think? Are you up for a self-driving car from Ford? Or an EV? Chime in with your own VIGYAA ACCOUNT and be sure to check in with the DATA DRIVEN INVESTOR FOR MORE INSIGHTS!