Ford plans 40 EV models by 2022

Ford plans 40 EV models by 2022

Ford plans 40 EV models by 2022

Ford will shell out $11 billion on new electric technologies. But the automaker did say at the Detroit Auto show that the Mach 1 will be part of its increased push into electric vehicles.

Announcing details of its e-mobility offensive at the Detroit Motor Show, Ford said it would pump $11 billion (€8.9 billion) into e-cars and hybrids by 2022, while planning to have 40 new-energy models in its lineup by then. The move is in line with what Jim Hackett told investors in October, noting Ford would slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to focus more on trucks and electric and hybrid cars.

"We're going to electrify even our most iconic vehicles", he said at Cobo Center.

The new investment in electric cars is being welcomed by states worldwide, with China, the United Kingdom and France having all announced plans to phase out vehicles powered by combustion engines and fossil fuels between 2030 and 2040.

As battery prices rapidly decrease and regulators starting to crack down on the internal combustion engine, auto companies are capitalising on electric vehicle models.

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The company expects to develop 16 battery-only vehicles and 24 hybrid-electric vehicles by 2022.

So far, the name is just about all we know about that vehicle.

In December, Ford and Alibaba signed a deal to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba's online retail platform Tmall.

Some EV production will be done in China where Ford has EV jvs.

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