Ford Plans to Deliver 16 Electric Vehicles by 2022 with Increased $11B Electrification Investment
Ford announced this week that it intends to more than double the amount it originally intended to invest in vehicle electrification, which will result in 16 fully-electric vehicles being launched by 2022—the first of which is expected to arrive by 2020.
“We’re all in, and the only question is will the customers be there with us?” Ford Motor Company Executive Chairman Bill Ford asked reporters on Sunday during the company’s presentation at the Detroit Auto Show.
And how much in is all in, exactly? For Ford, it’s approximately $11 billion, which will be spent on developing and delivering a total of 40 electrified vehicles across the globe. Of that number, 24 are expected to be hybrid or plug-in hybrid vehicles, while the other 16 will be all-electric.
This is a significant increase from the $4.5 billion investment announced just over two years ago, which Ford at the time said would result in 13 electrified vehicles—including hybrid versions of the F-150 and Mustang and a dedicated battery-electric crossover with an expected 300-mile range.
With the increased investment, Ford is likely to explore hybrid, PHEV, or fully-electric variants of its more popular products in addition to building new vehicles from the ground up. Ford is already rumored to be working on electrified variants of its Escape and Expedition SUVs.
“The idea is we’re going to electrify our most iconic vehicles,” Ford said.
Ford’s announcement also signaled the development of the Mach 1, a fully-electric performance SUV that will be in some way inspired or influenced by the Mustang. The Mach 1 was announced for a 2020 launch window, which would put it at the fore of Ford’s planned EV product onslaught.
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News Source: Automotive News (subscription required)