Ford plans $11 billion investment in electric vehicles by 2022

Robyn Valdez
January 16, 2018

He formed a new internal team, called "Team Edison", to oversee electric vehicle programs and he shifted one-third of internal combustion engine investments to electric cars, but the company is still investing more in the former than the latter.

The new Ford Mustang Bullitt may have been a surprise, but it was the second announcement at Ford's Detroit Auto Show keynote speech that left most of us... By 2030, Jackson said he expects electric vehicles could account for 15-20 percent of New vehicle sales in the United States.

Ford is planning to add 40 electrified cars to its global lineup by 2022 and 16 of those will be fully electric while the rest will be plug-in hybrids.

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Ford's $11bn investment pledge is much higher than a previously announced target of $4.5bn by 2020 and was spearheaded by new chief executive Jim Hackett. Part of that $11 billion investment will include $700 million to upgrade Ford's Flat Rock, Michigan facility.

Mr Ford told reporters: "We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them. The only question is whether the customers will be there with us and we think they will", he added.

Ford has said that the focus will be on creating electric versions of now existing models, although did not rule out new models on the way.

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General Motors, Toyota and Volkswagen have already outlined ambitious plans to offer more electric vehicles.

"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.

Ford's original plan was to launch an all-electric SUV in 2020, but in order to stand out on the market and create something unique the brand has changed tact and made a decision to launch it as a performance model.

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