Ford Motor Company says it will increase its investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup. This announcement was made by Bill Ford, the Chairman of the company at the Detroit auto show.
Ford said that 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids.
Ford added: “We’re all in on this and we’re taking our mainstream vehicles, our most iconic vehicles, and we’re electrifying them. If we want to be successful with electrification, we have to do it with vehicles that are already popular.”
General Motors Co, Toyota Motor Corp and Volkswagen AG have already outlined gigantic plans to expand their electric vehicle offerings.
Major automakers are reacting in part to pressure from regulators in China, Europe and California to slash carbon emissions from fossil fuels. They also are under pressure from Tesla Inc’s success in creating electric sedans and SUVs that inspire would-be owners to line up outside showrooms and flood the company with orders.
This race to make the electric car not be a stranger on the highway is gathering momentum and very soon fuel and diesel vehicles will be a thing of the past or gradually phased out.