Ford to invest $11bn in electric vehicles

Dianna Christensen
January 16, 2018

Mr Hackett, who replaced Mark Fields in May, has said he wants to make fewer sedans and internal combustion engines and develop more trucks and electric and hybrid cars.

Raj Nair, Head of Ford's North American operations has admitted that such moves are "rightful" adding: "We believe man-made Carbon dioxide is contributing to climate change and we've got our part to play".

In the United States, General Motors Co has outlined plans to introduce 20 new battery and fuel cell electric vehicles by 2023, majority built on a new dedicated, modular platform that will be introduced in 2021. Ford plans to invest up to 11 billion Dollars in the development of electric cars.

Ford Motor Co's plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows. By the end of 2015, the concern said it would invest 4.5 billion United States dollars by the end of the decade, but now raises the investment and targets.

"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.

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In a report via the BBC, Ford has announced plans for a major expansion in the electric auto industry.

In an interview on Monday at the Detroit show, de Nysschen said Cadillac would "play a central role" in GM's electric vehicle strategy in China, and will introduce an unspecified number of models based on GM's future electric-vehicle platform.

"Ford will prepare for disruption by becoming fit", the executive said.

Jim Farley, Ford's President of global markets, said that "what we learned from this first cycle of electrification is people want really nice products", urging the industry to "think big" as the competition between automakers increases. We will update you once we get an official answer on the matter. The company identifies only one model by name that will come out in 2020 and is called Mach 1.

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