Day: February 17, 2021

Ford Makes $29 Billion Commitment to EVs and Self-Driving Cars

  • Ford announced a $29 billion investment in EVs and autonomous vehicles through 2025.
  • In the future, the majority of Ford vehicles will be electric, while traditional gasoline powertrains will be augmented with hybrid and plug-in hybrid powertrains.
  • Ford is joining GM and others in heavily investing in electric and autonomous vehicles to compete with Tesla.

    Ford announced during its fourth-quarter earnings report that it will invest $22 billion in electric vehicles and $7 billion in autonomous vehicles through 2025. The electric-vehicle stake is an increase over the $10 billion already pledged to help Ford compete in the race to bring electric vehicles into the mainstream.

    In part, Ford may be throwing the money down to compete with GM’s bigelectrification goals, but it stopped short of announcing exactly when, or if, it will transition to an all-electric passenger-vehicle fleet as General Motors has pledged to do. What it has announced is

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