Posted on 01/15/2018 12:58:38 PM PST by cp124
Ford Motor Co. will more than double spending on electrified vehicles, amplifying its investment in a segment that the auto industry sees growing from what’s now just a fraction of the market.
The carmaker will shell out $11 billion bringing 40 electrified vehicles to market by 2022, Jim Farley, president of global markets, said during a presentation at the Detroit auto show. That’s up from the $4.5 billion that Ford said in late 2015 it would invest through the end of the decade.
“This $11 billion you’re seeing, that means we’re all in now,” Executive Chairman Bill Ford told reporters in Detroit. “The only question is will the customers be there with us and we think they will.”
After electric-vehicle darling Tesla Inc. surpassed Ford in market value last year, the second-largest U.S. automaker replaced then-Chief Executive Officer Mark Fields. His replacement Jim Hackett has vowed to cut costs and drop some car models from the lineup to refocus the company’s future on sport utility vehicles, trucks and electrification.
With battery costs declining rapidly and regulators around the globe cracking down on the internal combustion engine, automakers have been rushing to step up their game with regards to all-electric models. While the segment comprises less that 1% of annual deliveries in the U.S., global demand is expected to rise as governments phase out gasoline and diesel engines and batteries reach price parity with traditional powertrains.
Tougher Standards Ford expects fuel economy and pollution standards to get tougher, “and rightfully so,” said Raj Nair, head of Ford’s North American operations.
“We believe man-made CO2 is contributing to climate change and we’ve got our part to play,” he said.
Perhaps like “New Coke” they will keep something to fall back on when the disaster hits.
What? He said...we're not going to all electric cars??
I was always under the impression that technological advances gained market share in a free economy because said technology offered advantages.
Cost - electric higher
Range - electric less
Re-fuel time - electric much more
I still cannot identify an advantage over a gasoline or diesel powered vehicle.
There must be some new battery technology they are banking on, that we don’t know about yet.......................
Found On Road Dead
Looks like it. After all Trump will be President for only 4 or 8 years. Likely, Democrats will make everyone but electric cars by 2040, so it's just 22 years away.
Anything you plug to the wall with a socket is an appliance, NOT a car. I own a V8 20 gallon Jeep and I know I get around 60 + MPG but I dont care. Its just money.
A significant portion of the electrical energy delivered to your garage is generated by burning coal or natural gas to turn a turbine.
Yep. Control the movement of people...
Case in point a Chevy Bolt w/ a range of 238 x 1.5 is 357 miles on a charge, you get the point. Some are working on lowering charging times to between 5 and 10 minutes.
So they can talk C02 bla bla bla, but the better reasons is the supplier base of all components for the drivetrain and no testing up the ying-yang of engines and EPA testing.
As my auto gnome told me, their are those that see this coming and those that don't will end up like the steam locomotives, great products but supplanted by the diesel locomotives as they fell by the wayside because they didn't embrace the change.
FWIW I think it happens in the 2 terms of the Trump Admin and fills the MAGA sails even more, as it is an inflection point, possibly greater than the tech-rev in the Clinton Years.
Either there's a typo in there, or you've been spending too much time in the beer garden.
Those of us in flyover country have no use for electric cars. There's no upside. It would be like those cell phone addicts who are always looking for a place to plug in their phone charger.
"We think"? This guy is the Chairman? I owned 3 small businesses and made sure the market was in place before opening 2 and expanding the 3rd. Plus, he's relying on over-seas markets?
Is it me or am I not seeing the demand for electric vehicles around the world? I know it doesn't exist in America, other than the liberal elite rich who think they're making some lame contribution. Gasoline internal combustion motors are here for the next 50 years or more. Hybrids can and probably will make a difference, but strictly electric...no. Just think of the infra-structure it would need.
“their are those that see this coming and those that don’t will end up like the steam locomotives”
Dumb conclusion based on a false premise.
There have been countless technologies people have claimed we had better embrace or else.
The others are powered by natural gas (fossil fuel) and the evil nuke plants.
I hope Ford knows we aren’t bailing them out.
Wow, that’s weird. For some strange reason, I was thinking about electric cars (and how stupid they are) today and wondered if Ford was in the game.
We were driving on Saturday and got caught in a hour long traffic stop on the freeway cause some idiot crashed (we saw him with handcuffs on, so he deserves the term idiot.
It was below freezing and I was wondering how long an electric car would do just sitting with the heater on
I follow Ford... Five years ago it was 14.11 Dollars a share.It’s high was 17.72 in 2014 and low was 10.56 in 2017.
Today five years later Friday, it closed at 13.23 a share. Down almost 6 % in those 5 years.The S&P 500 has gone in the last 5 years from 1485 to 2786 almost doubling.( This does not include Ford’s dividend )
The whole board of directors should resign in shame but they wont. Ford’s profits primarily come from very good and very large gas guzzling pick up trucks.I am not sure but I don’t know if Tesla has even started making a profit yet.I avoid the car industry now.Too weird for me.
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