Ford Increases Its EV Investment in to $22 Billion

The automotive world is changing in some major ways. One of the most prominent trends to emerge is the increasing electrification of vehicles across the industry. Ford has never been one to follow others, but rather one set the pace for everyone else. So, it should come as no surprise that it just announced plans to invest a staggering $22 billion in EV production.

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This is double the initial amount of $11 billion Ford pledge to invest in EVs back in 2018. Since then, a number of new electric innovations have emerged, from both within the Ford brand and outside of it, necessitating even more investment in emission-free models.

In just the past year, Ford introduced a remarkable new EV in the form of the Ford Mustang Mach-E. This vehicle is a radical departure from the traditional Mustang marque, as it is not only an SUV, but also an all-electric vehicle. Somehow, it still manages to maintain the world-famous pony car’s sporty performance.

The Mustang won’t be the only iconic Ford model to receive an all-electric option, as production on an electric version of the best-selling Ford F-150 truck is set to begin later this year. In addition to the $22 billion commitment for the production of electric vehicles, Ford is also pledging $7 billion for the development of autonomous driving technologies.

With all of the exciting new technological developments coming from our favorite automaker, all of us at Sour Lake Ford can’t wait to see what’s coming next. To experience Ford’s innovation firsthand, pay us a visit at our location in Sour Lake, Texas.