Ford will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup, Chairman Bill Ford said on Sunday at the Detroit auto show.
He also said that electric vehicles would reduce congestion around the world, will provide an easier means of transport for the unemployed to reach jobs in cities which are far from where they live and give better access to healthcare. "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. "If we want to be successful with electrification, we have to do it with vehicles that are already popular."
Ford also will expand its electrified vehicle lineup with a total of 40 vehicles globally, which will include 16 full battery electric vehicles by 2022. To support this, the company announced that it now plans to invest more than $11 billion in electrification from 2015 to 2022. The company also reiterated that it is on track to deliver a full battery electric performance SUV that offers at least a 300-mile range, for launch in 2020.
"We are actively evolving our position to be more competitive," said Jim Farley, Ford executive vice president and president, Global Markets. "At the highest level, we need to narrow our full lineup of nameplates to a more focused lineup that delivers stronger growth, less risk and better returns. We are repositioning the company to offer best-in-class, human-centered vehicles and mobility services. That's our vision."
Regarding self-driving vehicles, Ford is focused on building an autonomous vehicle business, including a purpose-built vehicle, the self-driving technology and the operational infrastructure in parallel, which will allow it to scale quickly as it enters production in 2021. Collaborations with Dominos, Lyft and Postmates will help validate its self-driving services business beginning this quarter though a series of pilot programs in a new city to be identified soon.
Source and top image: Ford