As car manufacturers around the world scramble to introduce viable electrification of their vehicles for governments are now pushing EVs, Ford Motor Company has announced that it is aiming for 40 percent of all sales to be electric vehicles by the year 2030. The company is spending billions on the development of EV platforms and battery manufacturing to achieve this goal.
Starting this year to 2025, Ford Motor Company plans to spend some $8 billion on EV development. Revealing details during an investors’ presentation, the company states this would bring the total spend to $20 billion. This also includes Ford’s joint venture with battery manufacturer SK Innovation for about 6 lakh EVs per year at two plants in North America.
Ford is accelerating investments and increasing planned total spending on electrification, including battery development, to more than $30 billion by 2025.
Anticipating 40% of Ford’s global vehicle volume to be fully electric by 2030, including from Mustang Mach-E, which is bringing new customers to Ford – 70% of buyers to date, the F-150 Lightning, an all-electric version of the pickup truck that has amassed 70,000 customer reservations unveiling one week ago, and E-Transit commercial vans, which will be on the road later this year.
The company is investing in battery technology and equipping itself to design, engineer and manufacture its own batteries.
Ford will be creating a business dedicated to commercial vehicle customers. Ford Pro, a global vehicle services and distribution business within Ford, will be devoted to commercial and government customers.
Another objective under Ford’s strategy is having about 1 million vehicles that are capable of receiving over-the-air system updates on the road by the end of this year, exceeding Tesla’s volume by July 2022, and scaling to 33 million OTA-enabled Ford and Lincoln vehicles by 2028.
It will include deploying connected functions like Ford’s BlueCruise driver-assist technologies, new features and upgraded software content, and EV charging to improve the user experience – and capitalize on what is projected to be a $20 billion market for such services by 2030.
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