Ford (F) says it will spend $550 million to convert a manufacturing facility to build small and electric cars. The current facility is set up for trucks.
The Ford Focus will be built next year there, followed by an electric version in 2011. The state of Michigan and the city of Wayne are kicking in $160 million in tax incentives for Ford.
When you’re not in bankruptcy court all day, you can really get some things done. Now, will anyone actually want to buy an electric Ford Focus?
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