Ford will invest $11bn in electric vehicles by 2022

16 January, 2018, 00:52 | Author: Devin Moran
  • FSMNews

Chairman Bill Ford has announced that the multinational automaker is greatly scaling up investment in the next generation automobiles aiming to add 40 hybrid and all-electric models to its line-up by 2022. Part of that $11 billion investment will include $700 million to upgrade Ford's Flat Rock, Michigan facility.

Volkswagen said in November it would spend $40 billion on electric cars, autonomous driving and new mobility services by the end of 2022 - significantly more than when it announced two months earlier it would invest more than 20 billion euros on electric and self-driving cars through 2030. The auto manufacturer has announced that it's significantly increasing its planned investment into electric cars. "And that is to electrify our iconic nameplates that tend to be higher transaction price vehicles".

Ford will invest a total of $11 billion in electrification programs, defined as conventional hybrids, battery-electric vehicles, and plug-in hybrids.

In other green-car news from Sunday's truck-heavy event was a 2020 arrival date for the Ford F-150 Hybrid full-size pickup truck, slightly later than promised by then-CEO Fields a year ago. Last May, it replaced chief executive officer Mark Fields with Jim Hackett, who was previously in charge of its self-driving vehicle subsidiary Ford Smart Mobility.

That team is said to enjoy greater autonomy than you'd normally find within Ford in order to accelerate the development of the automaker's electric cars.

Ford is to bring a high-performance electric utility vehicle to market by 2020.

"We believe that man-made carbon dioxide contributes to climate change and we have a lot to do about it", said Raj Nair, Ford Motor's executive vice president and president of North America.

Some of the electric vehicles will be produced with Ford's JV in China aimed at the Chinese market.



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