The electric vehicle market is booming right now, and it will continue to do so for at least the next five years. Tesla may have previously held the majority market when it came to all electric vehicles, but many other manufacturers are jumping on the bandwagon, and it remains to be seen whether they can continue to hold on to that top spot. Another car manufacturer that’s just announced big plans in this area is Ford.
Ford has decided to invest $4.5 billion in its new range of electric vehicles, all of which have been promised to be here by the end of the decade. This will include a 300-mile range, all-electric SUV, a hybrid Mustang, and a hybrid F-150 too. Mark Fields, CEO of Ford, has advised that $700 million would be issued to the manufacturing facility for making necessary upgrades, while plans to relocate a small-car manufacturing to a plant in Mexico have now been canceled. The announcement of Ford’s plans also hinted that it might be the end of the road for the C-Max.
The company’s Flat Rock plant will be where the new 300-mile, all-electric SUV’s will be made as well as a fully automated ride-hailing/ride-sharing vehicle. Fields said, “Our investments and expanding line-up reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years.” News leaked last year that the auto manufacturer was planning to make a hybrid powertrain in its best-selling pickup – the Ford F-150. But, what remains unclear is when this vehicle will become available as the company is also looking to release a diesel-powered F-150 too. Originally this model was due to be released in 2019 but following the announcement of Ford’s electric vehicle plans for 2020, who knows if it will be released before, after or with the EV’s.
Altogether, Ford says it will be releasing 13 electric vehicles within the next five years, including the hybrid Mustang, hybrid F-150, a ride-sharing autonomous vehicle, an electric SUV, a Europe-only Transit Custom electric van, and two new police-rated vehicles.
More News To Read
- Can Scientists Save the Planet or are We All Doomed?
- Are there Individual Replicas of Us Somewhere in a Parallel Universe?
- Gaze into the Cosmos With Pan-Starrs’ Huge Digital Map
- Have Researchers Uncovered the Origins of Alzheimer’s?
- Fuel Cell Vs. Battery Powered Motors: Who Will Come Out on Top?
