Ford will invest $11bn in electric vehicles by 2022

16 January, 2018, 01:24 | Author: Shannon Newton
  • 2019-ford-edge-2

USA auto giant Ford will massively increase investments in electric vehicles and roll out 40 hybrid and electric vehicles by 2022, executive chairman Bill Ford said Sunday at the 2018 North American International Auto Show here.

This will be a huge increase from the $4.5 billion the automaker announced it would invest by 2020 in December 2015.

He said the firm would offer 16 fully electric vehicles by 2022 and 24 plug-in hybrids.

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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. Ford has previously said it will make hybrid versions of the Mustang and of the F-150. "The only question is will the customers be there with us and we think they will". A Ford Explorer features in the teaser announcement video, but it hasn't been confirmed that this is what the electrified Mach 1 will be based on. Ford was planning to sign such a deal as it overhauls its China strategy to stimulate growth.

Bill Ford said the company sees an opportunity to build on its legacy and provide leadership in the rapidly changing mobility industry.

Ford is to bring a high-performance electric utility vehicle to market by 2020. "For us, it's not just compliance".

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Ford's additional investment in electric cars contrasted with numerous vehicle launches at the Detroit show featuring trucks and SUVs.

"If we want to be successful with electrification, we have to do it with vehicles that are already popular". He also added that this investment includes costs of developing dedicated electric vehicle architectures.

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