Ford says it will boost its investment in electric vehicles to $11 billion in the next five years, more than doubling a previous commitment.
Chairman Bill Ford said the car maker would have 40 hybrid and fully electric vehicles by 2022. Speaking at the Detroit Auto Show on Sunday, Mr. Ford said the focus would be on electrifying existing Ford models without naming any specific cars.
He said the firm would offer 16 fully electric vehicles by 2022 and 24 plug-in hybrids.
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 to boost investment in electric cars by 2022