Ford to Invest $11 Billion in Electric Vehicles, Release 40 Models by 2022
The Ford Motor Company plans to significantly increment its planned investment in electric vehicles by 2022, co-ordinate to a recent statement from Chairman Neb Ford. The company will now invest $11 billion, instead of its previous commitment of $iv.5 billion, and introduce 40 new hybrid and fully electrical models in the same period of time. Ford made the announcement at the contempo Due north American International Car Show in Detroit, Michigan.
According to Ford executives, the new investment figure includes the price of developing new electrical vehicle architectures, a Reuters written report says. The visitor previously revealed its plans to shift its capital investment abroad from sedans and internal combustion engines to develop more trucks, electric and hybrid cars. Out of the 40 new models Ford plans to innovate by 2022, xvi volition be fully electrical while the rest will be plug-in hybrids.
At the result, Bill Ford also said, "We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them…If nosotros want to be successful with electrification, we have to practise it with vehicles that are already pop."
The company also showcased an electric vehicle presentation at the event with a focus on SUVs. Jim Farley, Ford's president of global markets revealed that the visitor volition introduce a loftier-performance electric utility vehicle to the market by 2020.
Additionally, the company plans to commencement product of a hybrid F-150 truck at its Dearborn, Michigan plant in 2020. The company volition too produce electric vehicles with information technology'due south joint venture in Red china, which is a major target market for Ford.
Source: https://beebom.com/ford-electric-vehicles-40-models-2022/
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