Ford will unveil 40 hybrid, electric vehicles within 4 years

Tammy Harvey
January 16, 2018

Ford has committed to investing $11 billion (£8bn) in electric vehicles (EVs) by 2022.

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.

The new investment figure is much higher than the previous $4.5 billion the company said they would invest by 2020.

Ford added that of the 40 electric vehicles, 16 models will be all-electric. The company has more than doubled the initial planned investment which will also cover the cost of developing dedicated electric vehicle architectures.

"This $11 billion you're seeing, that means we're all in now", Executive Chairman Bill Ford told reporters in Detroit.

For now, Nissan Motor Co Ltd's 7-year-old Leaf remains the world's top-selling electric vehicle and the company's sole battery-only auto - an offering soon to be swamped by new rivals bringing tougher competition that could add pressure to pricing. "The only question is will the customers be there with us and we think they will".

"What we learned from this first cycle of electrification is people want really nice products", Farley said.

The largest single investment is coming from Volkswagen AG, which plans to spend $40 billion by 2030 to build electrified versions of its 300-plus global models.

Seeing that we are days away from the Detroit Auto Show, we can't help but to see the ST teaser as a reference to the next-gen Ford Mustang Shelby GT500. However, he also said that "a Mustang-inspired crossover is certainly something you can expect to come out of Team Edison" in the future.

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 chose to launch it as a performance model.

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