Info
Info

Ford Raises Planned Investment in EV, AV Leadership to $29 Billion

News
Info

Ford Motor Company ended 2020 strongly, improving its automotive and credit businesses in the fourth quarter while showing and shipping must-have new vehicles designed to delight customers, expand profitability and sustain free cash flow.

“The transformation of Ford is happening and so is our leadership of the EV revolution and development of autonomous driving,” said Ford President and CEO Jim Farley. “We're now allocating a combined $29 billion in capital and tremendous talent to these two areas, and bringing customers high-volume, connected electric SUVs, commercial vans and pickup trucks.”

Customers in the U.S. in the fourth quarter began taking delivery of the all-electric Mustang Mach-E; the Bronco Sport, ahead of the summer return of the legendary Bronco; and the 2021 F-150 pickup - all expected to be significant contributors to 2021 results.

Doubling Down on Connected EVs

Farley said Ford will now invest at least $22 billion in electrification through 2025, nearly twice what the company had previously committed to EVs. He said the company is “all in and will not cede ground to anyone” in developing and delivering connected electric vehicles and services in mainstream areas of strength for Ford: pickups, commercial vans and SUVs.

“We are accelerating all our plans - breaking constraints, increasing battery capacity, improving costs and getting more electric vehicles into our product cycle plan,” Farley said. “People are responding to what Ford is doing today, not someday.”

The Mustang Mach-E, he said, is receiving great customer and critical reviews, and will be followed by the first E-Transit commercial van (late 2021) and an all-electric F-150 pickup (mid2022). He added that EVs will be fundamental to the Lincoln luxury brand and the Transit commercial lineup, the latter across a variety of body styles and customized interiors.

Ford's development and delivery of connected vehicles will be enhanced by a new, six-year partnership with Google announced earlier this week. The two companies are establishing a collaborative group - Team Upshift - to unlock personalized consumer experiences, and create and make the most of data-driven opportunities.

The relationship will help Ford accelerate its transformation in key areas - modernizing operations, disrupting how it does things, partnering for expertise and efficiency, and creating must-have products and services - through Google's operating system, apps and services.

As EVs become primary in Ford's lineup, he said, dedicated manufacturing capacity for them will expand around the world. To date, the company is producing electric vehicles or plans to in Michigan (F-150); Missouri (E-Transit); two plants in Canada (SUVs); and Mexico and China (Mach-E), with others to follow.


The Latest News, Brought To You By
Ford Raises Planned Investment in EV, AV Leadership to $29 Billion
Modified on Thursday 4th February 2021
Find all articles related to:
Ford Raises Planned Investment in EV, AV Leadership to $29 Billion
TaaS Technology Magazine
Info
Alauda Unveils The World’s First Flying Electric Racing Car
AIR Index Vehicle Emissions Rating System Offers First Realistic, Fully-fledged Alternative To Official Data
REE Automotive Opens New Engineering Center Of Excellence In The UK
Niro EV’s Latest Accolade Reinforces The Strength Of Kia’s Electric Vehicle Lineup
Forward31 And Lufthansa Innovation Hub Launch Startup Partnership
Ouster Achieves Major Automotive Grade Milestone
Humax To Supply RAiDEA Mobility Service Platform In The Middle East
Hyundai Motor Group Unveils TIGER Uncrewed Ultimate Mobility Vehicle Concept
Abarth Launches World’s First Virtual Reality Test Drive Delivered To Homes
Cosworth And Delta Sign Agreement For Acquisition
AVL Advances Development Of Hydrogen Internal Combustion Engine For CO2 Neutral Transportation
Daimler Plans Separation Into Two Pure-play Companies And Majority Listing Of Daimler Truck To Accelerate Into Zero- Emissions And Software-driven Future
Targa Telematics Supports Leasys Miles In The UK
Kia Starts Pilot Of Last-mile Delivery Service In Singapore For Future PBV Business
How The Volkswagen ID.4 Communicates With Light
Riversimple And Siemens: The Beginning Of A Long-term Strategic Relationship
Kia Unveils Roadmap For Transformation, Focusing On EVs And Mobility Solutions
Trimble Teams With ROBORACE
VivoPower Secures 100% Ownership Of Tembo E-LV B.V.
Plus Commits To Deploy Ouster’s Digital Lidar Sensors
Volta Trucks Selects Meritor To Supply The Innovative Electric Drivetrain For The Volta Zero
Faurecia And Immersion Partner For Haptic Automotive Technologies
Ford Raises Planned Investment In EV, AV Leadership To $29 Billion
Mazda First OEM To Join The EFuel Alliance
Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the TaaS Magazine, the TaaS Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event