An electric car isn't nearly as eco-friendly as it sounds, if the electricity it runs on is generated from eco-unfriendly sources like natural gas or coal. Together, those fossil fuels currently provide roughly two-thirds of the country's energy.
SunPower systems will be available directly through Ford dealerships, which won't directly profit from the sales. Since SunPower currently only has 400 dealers, adding Ford's vast network of dealerships will greatly broaden the company's reach. Ford also now has an agreement with electronics retailer Best Buy
Ford is making strides to catch up with General Motors'
I think this deal is great for both Ford and SunPower, although weighted a little bit more in the latter's favor. SunPower gets to expand its distribution network substantially, and market directly to exactly the right crowd: eco-conscious early adopters who value alternative energy sources. Ford will benefit to the extent that it can boost Focus Electric sales by packaging the car with a complementary offering. This deal validates solar-powered electric cars' progress toward the mainstream, which should reward patient investors who are willing to stick it out for the long road to sustainability.
Fool contributor Evan Niu owns shares of Ford Motor and Tesla Motors, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Ford Motor and Best Buy. Motley Fool newsletter services have recommended buying shares of Ford Motor, Best Buy, and General Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.