Ford says it will invest approximately 24.5 billion euros in electric vehicles between now and 2025. The company is working on two EV platforms. The automaker says it expects 40 percent of its global volume to be electric by 2030.
These plans are part of the Ford+ plan, the automaker reports to investors. Under that Ford+ plan, the company will, among other things, work on two EV platforms, something that was previously leaked by Reuters. One of these platforms will be dedicated to different types of cars with support for rear-wheel and four-wheel drive. The other is for full-size pickup trucks and SUVs. The company is said to be working on electric versions of its Explorer and Lincoln Aviator cars, among other things.
According to the manufacturer, the Ford+ plan is intended to form a “lasting relationship” with customers, which will continue after the sale of the vehicle, The Verge also writes. The company wants to achieve this, among other things, by providing more future cars with network connectivity, so that they can be updated over-the-air. Ford signed a deal with Google in February. The company said at the time that it will provide future vehicles with Android Automotive, and can use Google Cloud to send customers in real-time messages about maintenance or trade-in options for their cars.
The company will also invest in battery technologies; the company will design, develop and produce its own batteries, CNET also writes. The company releases these batteries under the name IonBoost. The company is partnering with BlueOvalSK, a joint venture between Ford and South Korean SK Innovation, which was announced last week. The two companies will work on lithium iron phosphate batteries for commercial vehicles and lithium-ion batteries for consumer cars. In addition, Ford expects to have solid-state batteries ready by 2030.
Ford also reports that it will invest 24.5 billion euros in electric cars until 2025. This increases the company’s previously committed investment; previously, the automaker said it would invest about €20 billion in electrifying its lineup through 2025. The manufacturer says it expects that 40 percent of its cars sold worldwide will be electric by 2030. The company said earlier that it only expects to sell fully electric cars around that time, specifically in Europe.
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