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https://www.forbes.com/sites/samabu...ent-in-electrification-to-22b-7b-for-avs/amp/
Ford Doubles Investment In Electrification To $22B, $7B For AVs
Sam AbuelsamidSenior Contributor
Transportation
A lifetime in the car business, first engineering, now communicating
2021 Ford Mustang Mach-E Premium
SAM ABUELSAMID
Ford released its fourth quarter 2020 financial results today after the markets closed and posted a net loss for the quarter of $2.8 billion and $1.3 billion for the full year. None of that was surprising. However, Ford also announced that it was doubling its investment in electrified vehicles to $22 billion through 2025 and increasing its total investment in automated driving from $4 billion to $7 billion.
Ford began delivering its first purpose built electric vehicle, the Mustang Mach-E in late December and plans to ramp up deliveries beginning in February. The Mach-E for North America and Europe is being produced in Mexico, but Ford recently announced that it would add production for the Chinese market from its Changan assembly plant this spring.
So far, Ford has announced three new battery electric vehicles, the Mach-E, the e-Transit commercial van coming this fall and an electric F-150 due out in 2022.
“We are accelerating all our plans – breaking constraints, increasing battery capacity, improving costs and getting more electric vehicles into our product cycle plan,” Jim Farley, Ford CEO said.
More at source link above...
Ford Doubles Investment In Electrification To $22B, $7B For AVs
Sam AbuelsamidSenior Contributor
Transportation
A lifetime in the car business, first engineering, now communicating
2021 Ford Mustang Mach-E Premium
SAM ABUELSAMID
Ford released its fourth quarter 2020 financial results today after the markets closed and posted a net loss for the quarter of $2.8 billion and $1.3 billion for the full year. None of that was surprising. However, Ford also announced that it was doubling its investment in electrified vehicles to $22 billion through 2025 and increasing its total investment in automated driving from $4 billion to $7 billion.
Ford began delivering its first purpose built electric vehicle, the Mustang Mach-E in late December and plans to ramp up deliveries beginning in February. The Mach-E for North America and Europe is being produced in Mexico, but Ford recently announced that it would add production for the Chinese market from its Changan assembly plant this spring.
So far, Ford has announced three new battery electric vehicles, the Mach-E, the e-Transit commercial van coming this fall and an electric F-150 due out in 2022.
“We are accelerating all our plans – breaking constraints, increasing battery capacity, improving costs and getting more electric vehicles into our product cycle plan,” Jim Farley, Ford CEO said.
More at source link above...
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