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Ford, Nissan, and GM announced new moves into the world of electric vehicles, creating further competition for Elon Musk’s Tesla.
CNBC reports that Tesla shares fell by 3.7 percent this week as auto manufacturers across the world revealed a new interest in electric car manufacturing. Ford chairman Bill Ford stated that the company plans to invest $11 billion in electric vehicles by 2022, hoping to add 40 different hybrid and electric vehicles to their current vehicle lineup.
Ford - CEO - Jim - Hackett - CNBC
Ford CEO Jim Hackett discussed this with CNBC’s Phil LeBeau at the Detroit auto show on Sunday, saying: “We talked about a huge investment in electric vehicles. We have 16 models that are in design and development. We have a pretty big surprise coming next year.”
Similarly, the CEO of General Motors, Mary Barra, told investors before the auto show that the company was working on a fully electric version of their popular Cadillac car, which is reportedly expected to be an SUV model. Nissan revealed...
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