Ford will unveil 40 hybrid, electric vehicles within 4 years

Ford will unveil 40 hybrid, electric vehicles within 4 years

Ford will unveil 40 hybrid, electric vehicles within 4 years

Now it looks as if the Mach 1 will represent Ford's assault on the Tesla Model X in 2020 as part of Ford's plan of "electrifying the iconic nameplates".

But this new investment should result in 40 hybrid and electric vehicles in their lineup by 2022, said Chairman Bill Ford said on Sunday at the Detroit auto show via Reuters. He also added that this investment includes costs of developing dedicated electric vehicle architectures.

Jim Farley, executive vice president and president of Ford global markets, said the issue of electrification is about social responsibility and defining what's possible.

This will be a huge increase from the $4.5 billion the automaker announced it would invest by 2020 in December 2015.

The company has already said that it's going to cut $14 billion in costs over the next five years and divert capital investment away from sedans and internal combustion engines to work on more trucks, electric, and hybrid cars.

"The 11 billion Dollars that you see means that we are betting all-in", said executive chairman of Ford Motor, William Clay Ford.

"If we want to be successful with electrification, we have to do it with vehicles that are already popular".

Raj Nair, head of Ford's North American operations, said the auto company expects fuel economy and pollution standards to get more strict, "and rightfully so", he said.

Ford officials spoke after the company's big product launches of the, and.

"The agreement aims to explore new ways to redefine how consumers purchase and own vehicles, as well as how to leverage digital channels to identify new retail opportunities, " Alibaba then said in its statement.

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