Ford announces the Mach 1

Delia Watkins
January 16, 2018

The American auto giant said the increased spending will lead to 16 fully electric and 24 hybrid and plug-in hybrid models. Speaking to Jalopnik, Ford Executive Vice President Raj Nair confirmed that the Mach 1 will not be based on the Mustang, and will instead be built on a unique platform since it will be battery electric. 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", said Bill Ford on Sunday. No. 2 USA automaker then said that they would shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.

Beyond that, the compact electric utility vehicle is expected to offer 300 miles of range.

Daimler CEO Dieter Zetsche hinted to Former California Gov. Arnold Schwarzenegger during an exchange on stage next to the G-class that Daimler would someday have an electric version of the vehicle.

Ford also announced that it would begin building a hybrid version of its popular F-150 pickup in Dearborn, Michigan by 2020.

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Ford's team working on the new electric vehicles have declared their missions are to "think big" and "make quicker decisions" in the coming years.

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.

"What we learned from this first cycle of electrification is people want really nice products", Farley said. As other automakers including Tesla, Chrysler, Volkswagen, and Nissan spend more and more on EV research, it may be that Ford is making a bid now to become one of the strongest market players in the future.

China, India, France and the United Kingdom all have announced plans to phase out vehicles powered by combustion engines and fossil fuels between 2030 and 2040.

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