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Ford Doubles Spending on Electrification to $11 Billion
Ford Motor Co. says it will spend $11 billion on electrified vehicles—more than twice the spending it announced in late 2015—over the next five years.
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Ford Motor Co. says it will spend $11 billion on electrified vehicles—more than twice the spending it announced in late 2015—over the next five years.
“We’re all in,” declares Chairman Bill Ford to reporters at the Detroit auto show. The new plan calls for rolling out 16 all-electric and 24 hybrids or plug-in hybrids worldwide, beginning in 2020.
Two years ago the company said it would spend $4.5 billion on 13 electrified vehicles over five years. The new plan triples the number of such models, several of which will be electrified variants of the company’s “most iconic” models, the chairman says.
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