Ford announce plans to double EV investment by 2025
Automotive giant Ford intends to almost double its investments in the electrification of its vehicles to at least 22 billion US dollars by 2025, placing emphasis on new electric vehicle ranges and expansion of manufacturing facilities in North America, Mexico and Europe.
The US vehicle manufacturer made the news public following the announcement of the latest business figures, and as well as ramping up the focus towards increasing vehicle electrification, Ford are also planning to invest around seven billion dollars in the development of autonomous vehicle development
Ford CEO Jim Farley said of the news: “The transformation of Ford is happening and so is our leadership of the EV revolution and development of autonomous driving. We’re now allocating a combined 29 billion dollars in capital and tremendous talent to these two areas, and bringing customers high-volume, connected electric SUVs, commercial vans and pickup trucks.”
Ford’s headline EV the Mustang Mach-E electric SUV is currently being built in Mexico and there are plans to expand Ford’s Michigan plant to produce an electric F-150 from 2022. Adding to the company’s EV portfolio, and the E-Transit will be built in Missouri from late 2021 with its European equivalent being put together in Turkey).
Further plans that are part of Ford’s EV infrastructure Include, two plants in Canada being upgraded where electric SUVs for the Lincoln brand are to be built from 2024. In addition, the Mustang Mach-E will also be built in China for the local market.