Ford plans to bring a high-performance electric utility vehicle to the market by 2020. Photo: BloombergDetroit: Ford Motor Co. 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. The investment figure is sharply higher than a previously announced target of $4.5 billion by 2020, Ford executives said, and includes the costs of developing dedicated electric vehicle architectures. Of the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids, executives said. “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.

Source: Mint January 15, 2018 03:22 UTC