Ford Focus on Electric Vehicles to Invest $11 Billion to Build Electric Vehicles

Ford is bound to influence the future electric vehicle industry. It is reported that Ford said it will increase investment in electric vehicles. It is estimated that by 2020, a total investment of 11 billion US dollars will be used to produce electric vehicles. Strive to win more voice in the electric vehicle market.

Ford Motor Company will increase its investment in electric vehicles in the next five years. By 2022, it will invest 11 billion US dollars (about 70.6 billion yuan) to produce hybrid and pure electric vehicles.

Ford's global market president James Farley announced the news at the 2018 North American International Auto Show in Detroit on the 14th. Ford announced that it would invest $4.5 billion (28.9 billion yuan) to build electric vehicles by 2020. The latest announced investment has more than doubled.

Farley said Ford will introduce 16 pure electric vehicles and 24 hybrid and plug-in hybrids. Ford currently only produces a pure electric car.

“From the first cycle of electrification, we learned that people want real good products,” said Farley. “We have begun to show how it will play a role in the world’s electric car industry. That’s the classic that sells us higher. Brand electrification."

According to Agence France-Presse, Ford also announced at the Detroit Auto Show that it will produce a hybrid version of the F-150 pickup truck in Dearborn, Michigan, by 2020.

The special Ford Mustang, which was created to commemorate the 50th anniversary of the film "Witham Iron King", was also launched at the Detroit Auto Show and is expected to be launched this summer. Ford also introduced new models such as mid-size pickup trucks and sports sharp-edge off-road vehicles at the auto show.

According to the Associated Press, this year's North American International Auto Show focused on pickup trucks, GM, Fiat Chrysler and Ford all announced the new pickup.

The Associated Press said that although the US auto market has shrunk, it is still developing healthily. In 2017, national car sales fell by two percentage points to 17.2 million. Analysts expect that nearly seventeen vehicles will be sold in the United States this year.