Ford plans to pour another $4.5 billion into electric vehicles by 2020

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If you had doubts about Ford’s commitment to electric vehicles, then maybe CEO Mark Fields can remove them. This morning, Fields announced that his company intends to invest $4.5 billion into electric vehicles over the next five years, and will release thirteen new electric vehicles by 2020, including an updated Ford Focus sedan that’s expected to go on sale in late 2016. On top of that, Ford wants 40% of its global offerings to come in electrified versions by 2020, which is a significant increase over the 13% that it’s at now. Only time will tell how much of this Ford actually achieves, but it’s nice to see another major automaker taking electric vehicles seriously.

Ford Motor Co. says it will introduce 13 new electric vehicles worldwide by 2020, including an updated Focus sedan that will go on sale late next year. The new Focus will have fast-charging capability and an estimated 100-mile range, up from 76 miles in the current electric Focus. Ford also plans to introduce the Mondeo hybrid sedan and the C-Max Energi plug-in hybrid in China next year. Ford currently sells electric, hybrid and plug-in hybrid versions of its Focus, Fusion, C-Max and Lincoln MKZ sedans. Ford CEO Mark Fields says the company wants 40% of its global offerings to come in electric versions by 2020, up from 13% now. Ford says it will spend an additional $4.5 billion to meet its electrification goals by 2020. The company also announce it would change its focus from the vehicles themselves to the customer experience. “We are using new insights from anthropologists, sociologists, economists, journalists and designers, along with traditional business techniques, to reimagine our product development process, create new experiences and make life better for millions of people,” Ford’s executive VP of Product Development, Raj Nair, said in a statement.

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  1. As an interim solution, Ford can start installing conversion kits on all new gasoline vehicles so the purchaser can choose weather to use gasoline, straight ethanol or hydrogen. It’s a minimal cost to the purchasers if these kits are installed at the factory and will solve the problem of the chicken and egg scenario by creating a market for alternative fuels.

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