Ford hikes investment in electrification to $11B

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Ford Electric Car Manufacturer Unveils Radical New Plan

Ford plans to ramp up investment in the electric vehicle industry to $11 billion by 2022.

The planned investment significantly exceeds the firm's previous target of investing $4.5 billion (£3.3bn) by 2020 and marks a shift in capital investment away from family cars with internal combustion engines to developing more trucks and low carbon vehicles.

Also, it appears the electric crossover may not carry not the "Model E" name, thought to be the working label for a future lineup of compact hybrid, plug-in hybrid, and battery-electric vehicles.

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. Ford plans to invest up to 11 billion United States dollars in the development of electric cars.

Toyota is racing to commercialize a breakthrough battery technology during the first half of the 2020s with the potential to cut the cost of making electric cars. On Sunday evening, Daimler AG unveiled its new G-class SUV, a bulky off roader, in an abandoned movie theater in downtown Detroit once used as a set for the movie "8 Mile".

SUVs figured in Ford's electric vehicle presentation.

Carillion collapse
Ford is planning an all-electric performance SUV: the Mach 1

As far as the hybrid F-150 is concerned, we know that it will be built alongside the regular pickup at Ford's Dearborn, Michigan facility, but Ford said today in Detroit that it's still "too early" to give out any concrete details.

The Ford Focus Electric remains the same basic compliance auto launched for the 2012 model year, with only a boost in battery capacity last year to bring it to 114 miles of range.

Speaking at Auto Show on Sunday, Mr Ford said the focus would be on electrifying existing Ford models without naming any specific cars.

"This $11bn you're seeing, that means we're all in now", he said. One avenue under consideration was the sale of Ford cars on Tmall.

Some EV production will be done in China where Ford has EV jvs.

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