Ford Motor Company predicts electric vehicles will account for 40 percent of its global vehicle sales volume before the end of the decade.
During its Capital Markets Day presentation this week, Ford laid out its new accelerated EV growth strategy and committed $30 billion to the engineering, development and production of new battery-electric cars, trucks, crossovers and SUVs. Thanks to this new strategy, Ford expects that 40 percent of its global sales volume will be all-electric by 2030. The automaker expects the majority of this EV sales growth will be driven by the Mustang Mach E, Ford F-150 Lightning and E-Transit electric commercial vans.
“This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T, and we’re grabbing it with both hands,” Ford CEO Jim Farely said of the transition to battery-powered vehicles.
Ford announced the new Ford Ion Park battery development center this week as well, which will help facilitate the ambitious EV growth strategy. The Ford Ion Park is described as ” a global center of battery excellence comprising more than 150 experts in battery chemistries, testing, manufacturing and value-chain management who will boost battery range and lower costs to customers and Ford.” The Ion Park will be tasked with developing a range of different EV batteries, including a new IonBoost Pro lithium iron phosphate pack for use in commercial vehicles.
GM said previously that it would bring 30 new electric vehicles to market worldwide before the end of 2025, two-thirds of which will be available in North America. That means that by mid-decade, roughly 40 percent of GM’s U.S. product portfolio will consist of EVs. This EV product portfolio will include the Chevy Bolt EV and Bolt EUV, future battery-electric Chevy Silverado, the GMC Hummer EV pickup and SUV and the Cadillac Lyriq crossover, among more.
“We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth,” GM CEO Mary Barra said earlier this year. “We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”
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Comments
Isn’t 40% of ford global sales the F-series? How’s that going to work out? Fine by me, step aside powerplug superduty! Time for a Dmax to show you real work!
A lot of work trucks don’t go long distances and better, they return to a central fleet location daily where they are recharged.
They may be used to haul tools with a work body around a plant or campus, going several miles a day. Or they may go from the construction yard to a work site in the same metro, say 20 miles and back each day.
While people certainly tow cross-country, I’d say the vast majority of F-series don’t go 200+ miles daily.
The problem with electric is driving all over the place, where you don’t have infrastructure, versus driving a lot.
Cause struggling contractors are lining up to buy 50K EV ford’s when they can get better performance out of a 30K (25 if you forgo V8’s for the 2.7turbo)Chevy work trucks (you checked autotrader about what they go for pre chip shortage?) just to put around and only consume 500-1000$ a year in fuel? I don’t know which contractors you know. But the only companies buying these will be woke-a-cola. Nobody else woke enough uses EV trucks, well Dow might have 1 per plant, for visitors, but they’re too stingy to do much else. Tale rate of ford’s in America will be 1-2% even as late 2050, 0% in Africa and the islands, and yes 30-40% in Europe, but people don’t buy many new cars there anyways. This is Ford bull talk, trying to be like Elon Musk, and being bragadocious with unreasonable goals. When will be able to actually buy one? The cycbertruck is what? 5 years in the making, no purchase date, we won’t be able to buy an EV for truck till 2024? Just in time for the incentives to go away.
Yeah, you don’t do commercial construction. One word: LEED.
“The problem with electric is”
There is no grid on the face of the planet with the capacity to handle the load of society moving to EV’s in the window of time that everyone is portraying.
Let’s not be obtuse and not realize that once the move to EV’s has reach a point of no return. The price of electricity will go through the roof, think “utility assessment” much like a traffic ticket penalty assessment (here in CA.). An excuse to raise the price with no recourse for the public to do anything about it. It sometimes can reach almost 100% of the infraction fine and is based on county budget needs (nice huh?).
The problem is that when you turn on your lights, TV, microwave etc. the price of the electricity will be the same, unlike how farm use diesel used to be cheaper. Lets not forget there is a push to federalize the utilities in America, and for those that want to bring up solar. Did you know there is a monthly connection fee for that connect to the grid that lets you sell unused power to the utility co.?
True that, and may I add that the same people pushing electric cars are also the one shutting down power plants and preventing the building of new gas turbines? They won’t notice there’s a power shortage till 5 years from now, will debate for a decade of what kind of grid to build, then take 20 years building it. Yeah, were 50 years away at the brightest to EVs being common, and that is if it happens.
Despite every measurement appearing to show EVs taking over by 2030, I kind of hope what you say is true because I’m in the market for a vehicle soon and it’s going to be an ICE by virtue of the price. If everyone switches to EVs, then resale of ICE vehicles may plummet. Not good!
Lowercase “ford” is at it again! These hundred years old companies runned by ivy leaguers don’t know what they’re doing, only if they read the gma comment section to get a clue! How many times should we tell you dumazzes, electricity doesn’t work! You can’t make noise and smoke with electricity, it sucks. Go back to last century, NOW!
Electricity works, obviously, it’s just not nearly as convenient and not nearly as green, in the long run, as greedy corporations want you to think. Keep doing what big brother tells you though… Lemme know how it works out for you.
Wow, Ford, great vision, and thanks for the stock boost, I think I will start doing some selling now as executing this plan is going to be harder than it sounds, and likely to be a bumpy road. Not giving up on Ford, just reducing my exposure after a big gain, time to look for other opportunities.
Dudebro commenters probably: “Finally, a man-led company choosing electric cars. Better than woke, SJW, pro-democracy Mary Barra who is forcing all men to wear dresses and destroying cars forever!!!!!!!!!!!!!111111”
In all seriousness, Kudos to Ford’s new leadership finally realizing that electric is the future and not just niche V8 pick-up models and Wrangler competitors. Better late than never.
I do wonder if GM is going to make some more Ultium model announcements soon in response to this.
Rivian is going to make millions selling to ford, enjoy your Rivian-F150!
Not 1 Rivian part or engineering in the F150, that partnership goes the other way, Ford is helping Rivian get to production.
So damn ugly!
Ford, always late to the party, not a leader. Lol!
What a bunch of Luddites in the comments today!
Why? Because folks do not want to buy something that is being shoved down their throat?
Does ‘electric’ power mean the package has to be butt-ugly?
The Mustang-E supports that theory.