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Ford to Set Up EV Charging Stations for Plant Employees

Each vehicle charge will cost the company about fifty cents


Ford GMIn a bid to promote electric car use among its own workers, another U.S. auto giant is making it easier for employees to recharge their vehicles while at work.

On Monday, Ford (F) announced that, beginning in November, it will place charging stations at its offices and factories across the U.S. and Canada. More that 50 company locations will receive the stations, which can recharge the battery of an Ford-made electric vehicle in about four hours, Reuters notes.

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Use of electric vehicles will shave workers an estimated $2 a day in gas. It will cost the company about 50 cents for each vehicle charge. Workers will be able to charge their vehicles for free for four hours.

Ford did not indicate how much it would cost the company to deploy the charging stations. The company joins General Motors (GM), which has 795 charging stations across the U.S., and Nissan (NSANY), which has installed 160 chargers at its U.S. locations.

In July, Ford said it would cut the price of its electric Focus EV by $4,000, pushing the base price down from $39,200 to $35,200.

Last year, General Electric (GE) announced that it would acquire 2,000 plug-in Ford C-Max hybrids, as part of its drive to replace half its fleet with alternative-fuel vehicles.

Shares of Ford climbed more than 1% in pre-market trading on Monday.

Article printed from InvestorPlace Media,

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