Ford Motor Company (NYSE:F) Plans to Release Solar Hybrid Concept Car
Ford Motor Company (NYSE:F) surged 0.45% in premarket trading on Firday as it plans to release at this month’s International CES gadget show a solar-powered perception car that offers the similar performance as a plug-in hybrid but with no the require for a plug.
The firm declared that the C-MAX Solar Energi Concept car uses a gasoline engine mutual with a gizmo that acts similar to a magnifying glass to concentrate the sun’s rays on the vehicle’s roof-mounted solar panels. The automaker declares the vehicle’s anticipated combined city-highway mileage is 100 miles (160 kilometers) per gallon.
As the concerns of stock market, Ford Motor Company (NYSE:F) stock in last session held volume of 31.54 million shares as compare to its average volume of 42.92 million shares. The stock after opening at $15.42 hit high price of $15.45 and then closed at $15.44 by scoring +0.06%.
The revenue measures, generated revenue of 146.31 billion in the following twelve months income of $5.71 billion. The Company showed a positive 4.70% in the net profit margin and in addition to in its operating margin which remained 4.70%. Company’s annual sales growth for the past five year was -4.50%.
The U.S. automaker declares that by using solar power as an alternative of an electric plug, a typical owner will cut their annual greenhouse gas emissions by four metric tons. The firm declares it sold about 85,000 hybrid or electric vehicles in 2013, comprising 6,300 units of its C-MAX Energi plug-in hybrid. The sun-ray concentrator was expanded by researchers at the Georgia Institute of Technology as well as uses what is recognized as a Fresnel lens, which concentrates light other than can be made thinner than a conventional lens. Ford declared that a full day of sunshine is equivalent to a four-hour battery charge, or 8 kilowatts.
The firm declared that the sun could power 75% of all trips made by an average driver. Following showing off the perception car at the convention in Las Vegas Jan. 7-10, Ford Motor Co. reports that it will test the vehicle with institute researchers to determine if it’s feasible for mass production.