DETROIT (AP) – Ford Motor Co. says it’s doubling its investment in electric and hybrid vehicles and plans to introduce 40 by 2022.
Among them: A hybrid version of the F-150 pickup truck that is due out in 2020.
In 2015, Ford pledged to invest $4.5 billion to develop 13 electric and hybrid vehicles by 2020. At the Detroit auto show Sunday, the company says it’s doubling that to $11 billion. It plans to bring out 24 hybrids and 16 electric vehicles by 2022. Ford’s global markets chief says many current Ford vehicles, like its best-selling F-150, will get hybrid or electric versions.
“We want to make a statement about the company that we’re electrifying our iconic vehicles,” Farley says.
