Scheduled to launch sometime next year, Ford is finalizing the plans for its U.S.-spec, 100-mile range Focus Electric. Today it announced it will source battery packs for the car from Compact Power Incorporated.

“CPI is an emerging leader in the lithium-ion battery field and we are pleased to have them as a strategic supplier as we prepare to bring the Ford Focus Electric to market,” said Sherif Marakby Ford’s director of sustainable mobility products and hybrid programs.

A subsidiary of LG Chem, CPI is based in Troy, Mich., some 30 miles north of Ford’s Dearborn global headquarters. CPI will initially import the cells from Korea through LG Chem, but will soon begin manufacturing its own product at its new plant in Holland, Mich., with battery pack assembly beginning next year. The battery pack will incorporate CPI’s advanced liquid-cooled modules and battery management systems, along with its industry leading safety-reinforced-separator technology. CPI has capacity to make battery packs for roughly 150,000 vehicles annually at its new plant.

Like its gasoline-powered brethren, the 2011 Focus Electric will be produced at Ford’s Michigan Assembly Plant in Wayne, Mich. In addition to the Focus, Ford will produce the Transit Connect Electric, a pair of next-generation hybrid electric vehicles, and a plug-in hybrid vehicle, by 2012. The Focus Electric satisfies Ford’s goal for its first electric car to achieve no less than 100 miles on a single charge, while emitting no tailpipe emissions.

Source: Ford, The Detroit News

Stepped away from your Blackberry, PC, or iPad for the week? Here are a few of the top news stories for the past week, along with some auto shows to visit and racing action you may want to tune into during your weekend.

Chevrolet Announces Volt Production Numbers, Expands Launch Markets

Although we’ve heard plenty about the forthcoming 2011 Chevrolet Volt over the past year or so, General Motors finally detailed its plan for ramping up production. Between the end of this year and the end of 2011, the automaker plans on building 10,000 examples, and that figure will triple by the end of 2012.

Additionally, GM announced it had expanded the list of launch markets from four to seven. Now included in the group of “early adopters” are Texas (Austin, especially), New York, New Jersey, and Connecticut.

Tesla Issues IPO, Reveals Updated Roadster 2.5

Some questions surrounding Tesla’s fiscal future were put at bay this week when the California-based electric car manufacture launched its initial public offering — the first  American car company to do so since 1956. The automaker reportedly was able to rake in nearly $226 million from the process, which should surely help it stabilize its future product and production plans.

Shortly following the IPO, Tesla also managed to unwrap its revised Roadster, dubbed the Roadster 2.5. The new model includes minor improvements, including updated front and rear fascias, new wheels, and a revamped interior.

Hyundai Veloster to Debut at 2011 Detroit Auto Show,  2012 Elantra Spied

We first saw the Hyundai Veloster concept back in 2007, but we learned earlier this week that a production-ready version will be headed to the 2011 Detroit Auto Show. We’re not sure the name will make it into production, and rumor has it the Tiburon name could resurface on the new car.

Speaking of future Hyundais, we also managed to spot a 2012 Elantra prototype parked right beneath our office window. Although we couldn’t see the car in all its glory, it’s apparent it takes a number of its styling cues from the 2011 Sonata. We expect to see more of the new car shortly, seeing as it’s scheduled to debut around this time next year.

The End? Golden Coupe Marks End of 2010 Dodge Viper Production

We knew the end was coming — but that doesn’t mean we weren’t caught a little off guard to learn Dodge built its 500th and final 2010 Viper SRT10 this past week. The golden coupe was custom-ordered to a Viper fan’s wishes, and will join her collection of 40+ cars in Texas. Although we hear Chrysler is mulling a third-generation car, we’re not quite certain if the project is still green lighted — or if it will even be called Viper.

Weekend Racing

-NASCAR Coke Zero 400 at Daytona International Speedway Saturday July, 3 at 7:30 p.m. on TNT
-Rolex Sports Car Series Daytona 250 at Daytona International Speedway Saturday July, 3 at 1 p.m. on Speed

Tesla became the first American car company to go public since Ford in 1956, but more importantly, the electric car maker raised some much-needed cash — $226 million.

Initially, Tesla planned on offering 11.1 million shares at $14-$16 each, but later increased that figure to 13.3 million. According to Bloomberg data and a filing with the U.S. Securities and Exchange Commission, Tesla also increased the share price to $17 each. In total, the company raised $226 million in its initial public offering. The company will trade under the symbol TSLA, and CEO Elon Musk will ceremonially ring the NASDAQ Stock Market opening bell today.

Going public may seem like a good way for several Tesla affiliates, as well as Musk — who has reportedly gone broke after spending more than $70 million of his own money — to recoup their losses. The federal government, however, has put a few measures in place with its loan to ensure that Musk, along with a few other key players, remain Tesla investors. In order for Tesla to secure the loan, Musk and other certain unnamed Tesla affiliates must retain 65 percent of their stock in Tesla for at least one year after completing the Model S project.

The cash infusion from the IPO comes at a good time for the company, which has yet to turn a profit after seven years. Tesla will use the funds from its IPO along with a $465 million federal loan to buy a factory in which to produce the Model S sedan and start production. Toyota and Tesla have already been in talks about reopening the now abandoned New United Motor Manufacturing Incorporated plant in Fremont, Calif.

As part of the deal to reopen NUMMI, both Tesla and Toyota would produce an electric vehicle there in 2012. Tesla’s plan: a production version of the Model S, as well as possible Model S derivatives and a new Roadster. Toyota’s EV plans for NUMMI, however, remain less clear. In addition to reopening the NUMMI plant together, Tesla and Toyota also came to a deal in which the Japanese giant invested $50 million in the American startup and would later be granted common stock. Following the IPO, Toyota now owns roughly 2 percent of Tesla.

Source: Bloomberg