They expect 40% of their global sales to be EVs by 2030.
Ford will now invest $30 billion on electrification by 2025.
Ford’s electrification plans just got a big boost to the tune of $8 billion on top of the already committed $22 billion. This money will go towards new platforms, battery development, and aid the Blue Oval in delivering loads of new EVs to global markets.
By 2030, Ford expects that 40% of its global sales will involve new EVs. This goal will be achieved thanks in part to two new dedicated EV platforms which are slated to arrive by 2025. One of these new structures, the TE1, will underpin the redesigned F-150 Lightning and possibly find its way under electric versions of the Lincoln Navigator and Ford Expedition, according to Automotive News (subscription required).
Ford has also signed a deal with SK Innovations to build batteries. These units will be known as IonBoost batteries as a nod to Ford’s EcoBoost line of turbocharged engines. There will be three variations of the batteries: IonBoost lithium-ion batteries; IonBoost Pro lithium-ion phosphate for commercial applications; and solid-state batteries developed with Solid Power, a company in which Ford has an equity stake.
Ford will also develop a new “always-on” relationship with its customer base with a program they call Blue Oval Intelligence using a cloud-based platform for all types of applications including over-the-air updates.