Ford Motor Company has recently announced a new hybrid initiative in the face of ever-increasing gas prices. The new initiative will strive to boost production of its hybrid vehicle selection and sales tenfold by 2010. William Clay Ford, Jr., the company’s chairman and chief executive officer, credits the “multi-dimensional energy crisis that afflicts the nation” as the primary reason for the hybrid initiative, not governmental influence.
Currently, Ford annually sells around 25,000 Ford Escape Hybrids, which is a small sport utility vehicle. In 2006, Ford will also begin offering the Mercury Mariner Hybrid sport utility. Ford is striving to increase the number of hybrid vehicle sales by 2008, by offering five hybrid models. These will include the Escape, the Mariner, and the Mazda Tribute SUV. By 2010, Ford will offer the option of gas-electric Hybrid drive engine on more than half of the Ford, Lincoln, and Mercury models.
Ford Motor Company also announced plans to produce 280,000 fuel-efficient flex fuel vehicles in 2006. Flex fuel is an alternative fuel for gasoline-powered vehicles made from 85% ethanol and 15% gasoline. These vehicles will be the F-150 truck, the Crown Victoria, the Grand Marquis, and the Lincoln Town Car sedans.