How Ford Will Join the Electric-Car Revolution

Ford Motor Company (NYSE: F) is gearing up for a bigger push into electric vehicles. It's setting up a new electric-vehicle team led by a veteran Ford executive, it said on Monday, and it will increase the number of fully electric vehicles it has in development.

The news comes a day before Ford's new CEO, Jim Hackett, is expected to unveil his revamped strategy for the company in a presentation to Wall Street analysts. It's a clear hint as to where Hackett is likely to take Ford -- and another sign that the industrywide push toward electric vehicles might finally have hit a tipping point.

Signs are growing that Ford is preparing a major electric-car development effort. Image source: Ford Motor Company.

Source: Fool.com