Ford is continuing to transform its global business by accelerating the development and scaling of breakthrough electric connected vehicles.
Bill Ford, Ford Executive Chair, said “This isn’t the first time Ford has reimagined the future and taken our own path, We have an extraordinary opportunity to lead this thrilling new era of connected and electric vehicles, give our customers the very best of Ford, and help make a real difference for the health of the planet.”
With these changes announced today, Ford is raising its longer-term operating and financial targets, including producing more than 2 million electric vehicles annually by 2026, representing about one-third of Ford’s global volume.
Jim Farley, Ford President and CEO, introduced the Ford+ plan last May, calling it the company’s biggest opportunity for growth and value creation since Henry Ford scaled production of the Model T.
“The formation of two distinct, but strategically interdependent, auto businesses – Ford Blue and Ford Model e – together with the new Ford Pro business, will help unleash the full potential of the Ford+ plan, driving growth and value creation and positioning Ford to outperform both legacy automakers and new EV competitors.”
In addition, Ford expects to spend $5 billion on EVs in 2022, including capital expenditures, expense and direct investments, a two-fold increase over 2021.