Ford Spending $185 Million on New Battery

On Tuesday, Ford Motor Co. said it would be putting $185 million toward the construction of a research and development site focused on electric vehicle battery development in southeast Michigan. The facility will be called Ford Ion Park and employ roughly 150 full-time employees that will be focusing on small-scale projects that it hopes might lead.

Ford says that the $185 million being spent on this new battery will help solve some range anxiety that has kept some prospective customers from buying their cars. This is the third investment Ford has made into the technology this year, with larger over-the-air updates automatically improving vehicle safety and efficiency.

Ford announced that they will be spending an estimated $185 Million on a new battery to power their cars. They plan on bringing this battery to market quickly as soon as possible, without waiting for the technology to become more commonplace.

Ford is spending a whopping $185 million on an all-new battery system for its electric vehicles, according to a report by Reuters. In addition to the new battery system, the automaker will also be lowering the price of its current models in this country. Recent sales have shown that the utility customer might want to consider getting into the electric car market due to their low operation costs and help getting rid of toxic emissions.

In response to a market shift, Ford is investing $185 million into making their cars move faster. Originally, they were building cars which ran on gasoline, but now that Tesla’s are the trend, they want to build cars with the fastest speed possible.

Ford Motor Company is spending $185 million and another $27 million on battery safety tests to ensure that electric cars are safe to use. They’re also providing a full refund to consumers who have already purchased or leased the company’s plug-in or fully electric vehicle models.