Ford Announce Plans To Invest At Least £8bn In Electric Cars

Jim Farley president of Global Markets Ford Motor Company speaks at CES in Las Vegas Nevada

Jim Farley president of Global Markets Ford Motor Company speaks at CES in Las Vegas Nevada

The new investment in electric cars is being welcomed by states worldwide, with China, the United Kingdom and France having all announced plans to phase out vehicles powered by combustion engines and fossil fuels between 2030 and 2040.

Ford believed that the answer would be positive.

In the United States, General Motors Co has outlined plans to introduce 20 new battery and fuel cell electric vehicles by 2023, majority built on a new dedicated, modular platform that will be introduced in 2021. Speaking to Jalopnik, Ford Executive Vice President Raj Nair confirmed that the Mach 1 will not be based on the Mustang, and will instead be built on a unique platform since it will be battery electric.

"If we want to be successful with electrification, we have to do it with vehicles that are already popular".

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Volkswagen said in November it would spend $40bn on electric cars, autonomous driving and new mobility services by the end of 2022 - doubling a previous commitment.

The American auto giant said the increased spending will lead to 16 fully electric and 24 hybrid and plug-in hybrid models.

Mr Ford told reporters: "We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them".

"Ford will prepare for disruption by becoming fit", the executive said.

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Of the planned 40 electric models, 16 will be entirely electric. I don't think it ever will be until we solve the energy problem, but at least Ford seems to want to do something about it, and that can't be bad.

The new hybrid range will be part of Ford's global electrification strategy, which will see "13 new global electrified vehicles" come ton market in the next five years.

For now, Nissan Motor Co Ltd's 7-year-old Leaf remains the world's top-selling electric vehicle and the company's sole battery-only auto - an offering soon to be swamped by new rivals bringing tougher competition that could add pressure to pricing.

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