Ford commits $11bn to cleaning up cars by 2022

Edge ST First Ford Performance crossover

Edge ST First Ford Performance crossover

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.

Ford originally said that roughly $4.5 billion would be spent in the future on developing electric vehicles (EVs) and eco-friendly models which are not wholly reliant on fossil fuels - and this investment would have included the development of EV architectures. The company now offers just one fully electric vehicle. It's going to invest $11 billion by 2022 and will offer 40 hybrid and fully electric cars in its lineup.

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"The 11 billion you're seeing means we're all-in now", Ford told reporters, adding that the only question is whether the customers will be there with them. "And that is to electrify our iconic nameplates that tend to be higher transaction price vehicles".

Ford's first all-electric vehicle will be a Mustang-inspired performance SUV, Auto Express can reveal. On Sunday evening, Daimler AG unveiled its new G-class SUV, a bulky off roader, in an abandoned movie theater in downtown Detroit once used as a set for the movie "8 Mile".

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Ford also announced that it would begin building a hybrid version of its popular F-150 pickup in Dearborn, Michigan by 2020.

After the pioneer of electric vehicles Tesla outperformed Ford previous year at market value, the second-largest carmaker in the United States changed the then CEO Mark Fields.

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The Ford Focus Electric remains the same basic compliance vehicle launched for the 2012 model year, with only a boost in battery capacity last year to bring it to 114 miles of range. One aim of Ford's "Team Edison" is to identify and develop electric-vehicle partnerships with other companies, including suppliers, in some markets, according to Sherif Marakby, vice president of autonomous vehicles and electrification.

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