Monday 15 January 2018

Ford commits $11bn to cleaning up cars by 2022

Ford has committed to investing $11 billion (£8bn) in electric vehicles (EVs) by 2022.

The manufacturer plans to release 40 hybrid and fully electric cars by this point.

The planned investment  significantly exceeds the firm's previous target of investing $4.5 billion (£3.3bn) by 2020 and marks a shift in capital investment away from family cars with internal combustion engines to developing more trucks and low carbon vehicles.

Of the 40 EVs planned for Ford's global line-up, 16 will be fully electric and the rest will be plug-in hybrids.

The carmaker is just one of many to react to pressure from international markets to slash carbon emissions - China, India, France and the UK have all announced plans to phase out combustion engine-powered vehicles between 2030 and 2040.