Ford Motor Company (NYSE:F) is known for its high quality automobiles and innovative technology solutions. The company is planning to launch a new hybrid series car with gasoline-electric combination by the end of 2018. The main objective is to build market in the hybrid car segment and to compete with primary rivals including Toyota Prius.
Unlike the existing Fusion hybrid model of the company, this new car will become the first dedicated hybrid car offered by Ford Motor Company (NYSE:F). It is likely that the company will offer multiple models of the hybrid car just like its rival Toyota Prius. The company will offer different models of the gasoline-electric drivetrain of this hybrid car. Customers would be able to charge it with an external electrical outlet.
As per the speculations, the company will offer it as 2019 model and it took Ford just above 21 years to launch a hybrid model against Prius (launched 21 years ago in Japan). Toyota is expected to launch the fourth-generation of its electric car next year. Ford has been investing a huge amount in its hybrid car technology considering the stringent emissions standards in all the major markets.
Earlier the company was awarded top spot in Interbrand’s 50 Best Global Green Brands survey in June 2014. Ford Motor Company (NYSE:F) reported revenue of $37.4 billion for the second quarter of 2014 compared to its revenue of $37.9 billion in the same period last year. Pre-tax profit for the second year was $2.6 billion marking its 20th consecutive profitable quarter. The company recorded net income of $1.3 billion for the quarter and all of its automotive business units reported profit except South America.
This article has been written by Prakash Pandey.