With an objective of bagging a major chunk of market share in the world's biggest automobile market, the US automobile giant Ford Motor Corp has decided to invest Yuan 11.4billion ($1.8billion) in China. Ford will invest the amount in research and development (R&D) over next five years. Ford has been able to perform better in China market by eating into Japanese rivals' market share. Ford is planning to introduce new models in the China market soon. The new models include hybrid, plug-in hybrid and electric vehicles. Ford is also planning to roll out new generation smart cars shortly in China.
Tags: Electric vehicles
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EU to Delay Tariffs on UK Electric Vehicles for 3 Years, Offers €3 Billion to Boost Battery Manufacturing
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StoreDot, the startup company producing nanotech batteries that can charge smartphones in 30 seconds, had acquired $18M funds from Samsung, Norma Investments and Singulariteam, totaling $66M. The new funding will be spent to charge electric cars.
