$90 billion says electric cars are the future

Ford will invest $11 billion in electric cars, to have 40 hybrids and all-electrics in its range by 2022. Bill Ford said the firm was “all-in” on electrification.

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

He said the firm would offer 16 fully electric vehicles by 2022 and 24 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 told reporters. “If we want to be successful with electrification, we have to do it with vehicles that are already popular.”

Reuters estimates automakers have now committed a global total of at least $90 billion to building electric cars. $19 billion of that is from U.S. firms.

“Will customers be there with us?” asked Ford. “We think they will.”

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