Ford has announced plans to electrify its fleet of vehicles and release 40 fully electric and hybrid cars by 2022. Until then, the automaker plans to pour $11 billion into electric vehicle technology.
With the changing auto scene, self-driving cars and electric vehicles have become two of the most prominent trends in the transportation industry. Major automakers are already making efforts in these areas, aiming to adapt and stay on top of market trends, and the EV market shows great promise.
Ford's rival, General Motors, already announced plans to launch at least 20 new EVs by 2023, which might finally bring EVs into the mainstream. GM's plans for EVs boosted its stock prices and stirred great interest, but Ford is coming up with its own plans for the space.
Ford Electric Vehicle Plans
At the Detroit Auto Show on Sunday, Jan. 14, Ford Chairman Bill Ford said that his company will add 40 hybrid and fully electric vehicles to its range by 2022. The executive detailed that 24 of those vehicles will be plug-in hybrids, while 16 will be fully electric.
Ford did not mention any specific vehicle models at this point, but he did say that the company will primarily focus on electrifying existing Ford models that are already popular rather than coming up with new ones altogether.
"We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them," explained Ford. "If we want to be successful with electrification, we have to do it with vehicles that are already popular."
Automakers Focus On Electric Vehicles
At a time when automakers are facing increasing pressure worldwide to raise their efforts to reduce carbon emissions, Ford's announcement regarding its EV plans is bound to spark huge interest.
Other major carmakers have announced similar plans as well, pledging to invest more in electric vehicles. Mercedes-Benz parent company Daimler AG, for instance, announced that all of its vehicles will get electric versions by 2022. Volkswagen plans to electrify everything by 2030, while Volvo plans to stop making gas-only cars by 2019.
Amid serious competition, Ford is significantly ramping up its efforts. Back in late 2015, the automaker pledged to invest $4.5 billion in electric vehicles, which would have involved getting 13 EVs on the market by 2020. With the new plans, however, Ford is doubling down on its promise with more ambitious plans than ever for the EV market.
EVs have yet to drive wider adoption, but basing its upcoming EVs on popular Ford cars that customers already know and love could help the automaker sell its future EVs.