Ford on Sunday announced that it would invest $11 billion into electrified vehicles by 2022 – significantly more than the $4.5-billion-by-2020 announced in December of 2015. At the time that Ford announced its $4.5-billion pledge a little more than two years ago, the automaker said that it would bring out 13 new electrified vehicles by the end of the decade; now, Ford is saying it will introduce 40 such vehicles by 2022.
Reuters reports that of the 40 new electrified vehicles planned, 16 will be battery-electric, and the remaining 24 will be plug-in hybrids.
“We’re all-in on this and we’re taking our mainstream vehicles – our most iconic vehicles – and we’re electrifying them,” Ford Executive Chairman Bill Ford told reporters at the 2018 North American International Auto Show. “If we want to be successful with electrification, we have to do it with vehicles that are already popular.”
The new, more aggressive commitment to electrification brings Ford’s plans closer to those of General Motors, which announced in October that it would introduce 20 new battery-electric vehicles by 2023.
Ford Motor Company has so far only revealed some of the 13 coming electrified vehicles originally announced – a list that includes a hybrid F-150 pickup, hybrid Mustang, and a battery-electric crossover with a 300-mile range, which could be called the “Model E”. The automaker on Sunday indicated that the “Mach 1” nameplate, once reserved for a special, performance-oriented variant of the Mustang, could find its way onto a performance electric crossover by 2020. Ford North America Product Communications Manager Mike Levine later clarified that the automaker is studying consumer feedback to that usage of the Mach 1 name.