Ford investing $billions in electric cars

Ford has announced it will be investing another $4.5-billion into research and development. A lot of the focus will be on the vehicle’s batteries themselves.

Some of the money will go towards the $9-million battery lab built in 2013 at the University of Michigan.

Fortune reports in the next five years more than 40% of the company’s fleet of vehicles will be available in electric versions.

Right now, there are three Ford electric cars on the market. They include the C-Max plug-in hybrid, the Fusion plug-in hybrid and the all electric focus.

The push is mostly in Asia and Europe, where electric vehicles are an easier sell.

As the globe tries to move away from a heavy reliance on fossil fuels, many major automakers are investing heavily in manufacturing electric, or at least part electric vehicles.

Production will start next year on the 2017 Ford Focus Electric, which will have a 100 mile range and the ability to charge 80% in half an hour.