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Ford increases investments in electric and autonomous driving to 24 billion euros

Ford is increasing its investment in the development of electric and self-driving cars. Where the plan previously invested approximately 9 billion euros in these developments, this is now around 24 billion euros.

The timeline of those investments is stretched slightly: the 9 billion euros that Ford spoke about in 2018 was spread over a timeline that lasts until 2022. This adjusted investment includes a timeline that lasts until 2025. The starting point of these investments that Ford is pursuing is 2016. About three-quarters of the money goes to the development of electric, PHEV and hybrid cars and the remaining quarter goes to autonomous driving cars. Ford called the revised strategy on Thursday ‘s earnings call a “ more aggressive plan ” to take the lead in future mobility.

Ford also cited the recent decision to partner with Google in the presentation of the plans . Future Ford and Lincoln cars will be equipped with Google services from 2023. The infotainment systems of such cars will from then on use Android. The automaker will also use Google Cloud. One of the products of these investments in new technologies is the Ford Mustang Mach-E. 

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