Ford closes PHL plants but commits to building more EV

 Ford closed its PHL plant in Laguna recently, allegedly on weak domestic demand (I thought it was part of an ASEAN manufacturing base strategy)

However it is committed to  building more electric vehicles.  It will, according to Bloomberg invest $135 million into EV research and has l000 engineers committed to this mission.  They have sped up development by 25% and cost of hybrid system by 30%.

It is an ambitious project for Ford since they only have 3% of the market, while Toyota has 72% of the market.  For hopes to have 1/4 of total  production with EV by 2020.

As of now Ford CEO Allan Mullaly wants to have fuel efficient vehicles as number one priority

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