Ford to Spend $4.5 Billion by 2020 on Electric Vehicles
December 10th, 2015Via: Detroit Free Press:
Ford announced its largest five-year investment ever in electrified vehicles, with a pledge to spend $4.5 billion and introduce 13 new models by 2020, CEO Mark Fields announced today.
Fields said 40% of nameplates globally will be electrified by the end of the decade, up from 13% now. They will be a mix of hybrids, plug-in hybrids and full battery-powered electric vehicles.
It’s a move driven by customer demand as well as the need to meet fuel efficiency standards, Fields said.
Among the plans is an update to the Ford Focus electric vehicle coming at the end of 2016 for North America and Europe. It will have an improved range of 100 miles and can reach 80% of its charge in 30 minutes, considered the maximum length of time consumers will easily tolerate. The current Focus Electric has a range of 76 miles and can be fully charged in 3.5 hours with a 240-volt outlet. Getting to an 80% charge takes about 2.5 hours.
Even with a 100-mile range, it’s still a far cry from the Chevrolet Bolt electric car’s 200 mile range that General Motors plans to show next month at the 2016 CES electronics show. The Bolt is expected to go on sale in 2017. Tesla is working on its 200-mile Model 3 electric car, and Audi has an SUV in development for 2018 that aims to travel 300 miles between charges.
