Ford CEO Alan Mulally plans to tell Congress today that he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any
federal funds, Monica Langley and John D. Stoll report.
Mulally says Ford will explain to Congress it is rushing to launch new hybrids and electric vehicles by 2011, including a
battery-powered commercial van and compact sedan. A plug-in electric vehicle that can be recharged from a standard electrical outlet should follow in 2012, he says.
Ford chairman William
Ford Jr. says the company is looking beyond survival to opportunity. "We want to come blasting out as a global, green, high-tech company that's exactly where the country and the Obama administration
want us to head." Ford's recovery plan is "about building for the future," he says.
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