Team Edison created to ramp up EV development at Ford

Ford creates team to ramp up electric vehicle development

Ford creates team to ramp up electric vehicle development

- Ford Motor will unveil new Chief Executive Jim Hackett's strategy for the automaker after stock markets close on October 3.

He said the group will be based in the Detroit area and work with regional Ford vehicle electrification teams in China and Europe.

The Ford plan includes accelerating the introduction of connected, smart vehicles and services customers want and value with an aim by 2019 that 100% of Ford's new US vehicles will be built with connectivity.

Ford says it will allocate capital to where it can win the future.

The plan follows a four-month deep dive into Ford's culture and inner workings following Hackett's elevation to the CEO post in May. "It's a belief that has always fueled our passion to create great cars and trucks".

Marakby stated Group Edison "will look holistically at the electric vehicle market". The company has confirmed the formation of a new team internally dedicated to accelerating the company's electrification plans, dubbed 'Team Edison'.

Ford in late-2015 announced a $4.5-billion investment in electrification that would lead to the introduction of 13 new hybrid and battery-electric vehicles by 2020.

Hackett's address to Wall Street follows an announcement by cross-town rival General Motors that it would launch two new electric vehicles over the next 18 months and would have more than 20 such vehicles on sale by 2023.

- Ford has formed a team to speed up development of electric cars, with a brief to "think big", "make quicker decisions" and "look holistically" at the market, Sherif Marakby, vice president of autonomous vehicles and electrification, said on October 2. GM also plans to begin production of hydrogen fuel cells at its Brownstown battery plant in MI by 2020.

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