Ford plans to invest $4.5B in electrified vehicles and launch 13 new models by 2020

Ford plans to invest $4.5B in electrified vehicles and launch 13 new models by 2020

During the course of a press conference in Dearborn, Michigan, on Thursday, bigwig automaker Ford Motor Co. said that it plans to invest an amount of $4.5 billion in electrified vehicles by the year 2020.

The investment announced by Ford underscores the biggest five-year investment ever announced by the automaker in electrified vehicles; with the company also stating that, by 2020, it would launch 13 new electric cars and hybrid vehicles.

Sharing details about Ford’s plans, the company’s CEO Mark Fields said that 40 percent of the Ford vehicle lineup across the world will be electrified in the next five-year period. At present, only 13 percent of Ford’s nameplates worldwide are electrified.

Fields also said that the planned increase in Ford’s electrified vehicles globally, by the end of the decade, will comprise a mix of hybrid vehicles, plug-in hybrids, as well as full battery-powered electric vehicles.

Ford’s plans for more electrified vehicles by 2020 include a new Focus Electric car, which will boast fast-charge capability that will enable it to reach 80% of its battery charge in just 30 minutes. The car, with an improved range of 100 miles, will be launched in North America and Europe at the end of 2016.

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