Ford has increased its total investments into electric and autonomous vehicles to $29 billion USD (roughly $37 billion CAD).
The American automaker was originally planning only to invest $11.5 billion USD (roughly $14 billion CAD) to add more electric cars to its roster by 2022. Now, it has extended the timeline to 2025 and increased the budget.
The company says that $7 billion USD (roughly 8.9 billion CAD) of these funds are allocated for the company’s autonomous vehicle projects, and the remaining $22 billion is still focused on electrification. That said, this $22 billion number includes the existing $7 billion that Ford has spent since 2016.
So far, the company has the Mustang Mach-E, an all-electric transit van and the upcoming electric F-150 pickup to build its electric lineup from. Ford also announced recently that it’s partnering with Google to build Android into its cars and use Google’s cloud software.
This news isn’t that surprising as many large automakers have been increasing their pledge towards a green future lately. GM recently announced that it plans to make its fleet of cars mostly zero-emission vehicles by 2035. Last year, it also revealed plans to invest $27 billion USD (about $34 billion CAD) into its own electric and autonomous projects.
Via: The Verge