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Ford’s Volvo to invest into hybrid and nature friendly technologies
US based automaker Ford has said that they would be investing SEK10 billion through its subsidiary Volvo to develop hybrids and other nature friendly technologies.
The company is also planning to setup a new development center in Gothenburg, Sweden for this effort.
This center would be responsible for developing hybrid systems for the Volvo Cars vehicles globally. Ford plans to staff this center with a mix of 20 leading engineers from both Volvo Cars and other brands from the Ford group.
Fredrik Arp, president and chief executive of Volvo Car spoke on this new development: “We are very pleased that Ford Motor Company has decided to establish a development-center for hybrid technology in Gothenburg. This shows a strong belief in Volvo Cars and our ability to deliver results in future advanced technologies and underline the fact that Sweden has all the pre-requisites for research and development excellence.”