Ford Decides to Pull Back the Reins on Electric Vehicle Investment
For some time now, announcements have been coming out from the Ford Motor Company about their decision to hybridize various existing models while also presenting full electric and hydrogen vehicles as a part of a green lineup. However, last Thursday the attitude from Ford seemed to change a little bit when they announced that they didnât believe that electric vehicles were worth a full investment.
The word came down from the Executive Chairman himself, William Ford, last Thursday during his speaking engagement at The Wall Street Journal's ECO:nomics Conference in Santa Barbara, California. William Ford said that he believed that electric vehicle technology is at this point and time not proven to be the âwinning technologyâ when it comes to green vehicles. He instead thinks that Ford should not squander too many resources on the development of only electric vehicles when the company should also be paying close attention to the developing hydrogen fuel cell and biofuel markets as well. Fordâs reluctance to dedicate a large amount of resources to the development of electric vehicles is apparently due to their belief that the technology and infrastructure is not developing in a way to make it a very safe bet.
While Ford is happy to spread their investment around with green vehicle technology they certainly do not intend to totally abandon electric. They still have a variety of models converted into electric or hybrid versions and still have plans to take the Focus line and turn it electric.
As many companies push forward with electric on a massive scale, it will be interesting to see whether or not Fordâs cautious attitude will pay out in the end. With plenty of years ahead of us before we see any major change in the type of fuel automobiles use on an international or national scale it would seem Ford has time to change their mind.
Photo Credit: Francis Storr