Every vehicle will feature an electric or plug-in hybrid powertrain by 2026, ahead of the company switching its entire range of vehicles to fully electric four years after.
The Detroit giant plans to invest at least USD 22 Billion in electrification through 2025, which is close to twice what the company had previously planned.
Ford also plans to have its entire commercial range 100% zero-emissions capable, all-electric or plug-in hybrid by 2024.
This includes a USD 1 Billion cash boost to modernize its vehicle-assembly facility in Cologne, Germany, with its first European-built, volume all-electric passenger vehicle to be produced at the site from 2023.
This is the latest move by the world’s biggest auto manufacturers to set out plans to move away from polluting internal combustion engines before looming bans on fossil-fuel vehicles across the world.
GM already announced plans to have an entirely zero-emission lineup by 2035 and Jaguar also plans for its cars to be electric-only by 2025.