Ford commits $11bn to cleaning up cars by 2022

16 January, 2018, 01:24 | Author: Darren Santiago
  • Of the 40 electrified vehicles Ford plans for its global lineup by 2022 16 will be fully electric and the rest will be plug-in hybrids

But this new investment should result in 40 hybrid and electric vehicles in their lineup by 2022, said Chairman Bill Ford said on Sunday at the Detroit auto show via Reuters. This is a huge increase from the $4.5 billion by 2020 the automaker announced in December 2015 that it planned to invest.

From the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 should be fully electric and the rest will be plug-in hybrids, executives said.

On Jan. 13 General Motors said it has filed a safety petition with the U.S. Department of Transportation for its self-driving Cruise vehicle.

"We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them", Ford told reporters.

Introducing the smartest Ford SUV ever.

It now has one fully electric offering, a version of the Focus.

Some EV production will be done in China where Ford has EV jvs.

Ford says it will boost its investment in electric vehicles to $11bn (£8bn) in the next five years, more than doubling a previous commitment.

. "For us, it's not just compliance". He also added that this investment includes costs of developing dedicated electric vehicle architectures. "We want to make a statement about the company".

Ford has been lagging behind in all-electric vehicle programs since its first vehicle created to be electric from the ground up is only planned for 2020.

Jessica Caldwell, senior analyst at Edmonds, indicated the industry will be watching closely to see how Ford moves forward with its plan to produce a hybrid variant of its popular F-150. "Truck buyers are a demanding group, and it's probably a good thing that Ford has until 2020 to find a way to give them the best of both worlds".

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