Ford Increases EV Investment to $22 Billion
Ford Motor Company is full steam ahead into its electrification plans. With the all-new Mustang Mach-E arriving nationwide and the first fully electric F-150 set to enter production next year, the automaker is well on the way to becoming a global leader in EV production. To support that trajectory, Ford in February announced that it’s doubling its investment in electrified vehicles to $22 billion through 2025.
In addition to the $22 billion EV commitment, Ford is pledging $7 billion to developing and rolling out autonomous vehicle technologies.
Ford President and CEO Jim Farley said that the company is “all in and will not cede ground to anyone” when it comes to developing EVs and AVs. He also touted Ford’s success so far, saying, “People are responding to what Ford is doing today, not someday.”
Ford EV lineup expanding with E-Transit, F-150
In 2018, Ford announced that it would commit $11 billion to developing and manufacturing electrified vehicles. This plan called for 16 fully electric vehicles to join the global lineup by 2022. The recently launched Mustang Mach-E is the first of that rollout, and it will be followed by the E-Transit commercial van later this year.
Ford’s true test for EV adoption may come in mid-2022 with the launch of the all-electric Ford F-150. The F-Series will no doubt be key to the switch to electric, as has already proven the case with the all-new F-150. The 2021 F-150 added a PowerBoost Full Hybrid V6 to the lineup, mingling best-in-class combined fuel economy with impressive power and capability and a class-exclusive Pro Power Onboard generator.
In announcing the increased investment, Farley hinted that electric Lincoln vehicles and Transit commercial vehicles could be the next EVs out of the gate. Farley also said that Ford will expand EV manufacturing capabilities globally. Currently, Ford plans to build EVs domestically in Michigan and at the Kansas City plant in Missouri as well as at plants in Canada, Mexico, and China.