Ford to more than double investment in electric and autonomous vehicles

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Ford to more than double investment in electric and autonomous vehicles

According to online sources, Ford is increasing its investment in developing and producing electric and autonomous vehicles to $ 29 billion.

Ford
Ford

The automaker previously planned to spend $ 11.5 billion until 2022 to electrify its line of cars. It has been announced that Ford will spend twice as much on this, but the investment will be distributed until 2025. Thus, the company will invest $ 22 billion and $ 7 billion in the development of electric and autonomous vehicles, respectively. It is worth noting that the announced $ 22 billion that the company will invest in electric vehicles includes the $ 7 billion already invested by the company since 2016.

Most of the cars that Ford plans to build will be electric, according to reports. Besides, the automaker manufactures hybrid and plug-in hybrid vehicles powered by traditional combustion engines. As for its immediate plans, an electrified version of the popular F-150 pickup should be presented this year. Besides, the all-electric version of the Ford Transit van was launched last year.

New Ford CEO Jim Farley called the company’s increased investment a “more aggressive” plan to position America’s oldest automaker as a mobility and transportation leader. He also recalled the recently concluded deal with Google, under which the technology giant’s software and services will appear in millions of Ford vehicles starting in 2023.

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