Ford, Sweden meet to develop new hybrid

Ford CEO Bill Ford and Swedish Prime Minister Goran Persson met to discuss plans to develop a center where environmentally friendly technologies such as a new hybrid vehicle would be developed. Volvo Car Corporation, one of Ford's Premiere Auto Group, will be contributing more than $1 billion dollars to such technology while the Swedish government will be contributing $14 million as part of the country's plan to be oil-free by 2010. Ford will later meet this week with Swedish industrial leaders on advancing the country's companies world-wide.
[Source: Associated Press via Houston Chronicle]

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