Ford Announces $20 Billion Investment In EVs; To Take On Tesla & Other EV Makers

Drive Spark via Dailyhunt

Ford has announced an investment of 20 Billion dollars in its EV development. This new development is being seen as a serious commitment from Ford towards electrification .

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The electric vehicle industry in India is a phase of rapid growth while in America, it has already achieved rapid growth.

However, it doesn't seem like the growth will stop anytime soon.

Almost every major car manufacturer has already launched electric vehicles or has at least revealed plans to manufacture EVs.

Ford is one of the Big Three automobile manufacturers in America and therefore, the brand just can't afford to be left out in the EV race.

In May 2021, Ford revealed the F-150 Lightning electric pickup truck, and this was a symbolic move from Ford.

The Ford F-150 is the bestselling pickup truck in the USA by a huge margin. Models in the F-150 lineup have come to be known as a symbol of American nature.

Yet another symbolic car manufactured by Ford is the Mustang. The Ford Mustang heralded the arrival of the muscle car and made this segment of cars more desirable.

In 2019, Ford announced the arrival of the Mustang Mach- E, which is an electric car.

This led to a lot of debate regarding the originality of the crossover and whether it deserved the Mustang badge.

However, these two cars are pretty symbolic of Ford's future and it is easy to see where the brand is going.

The Mustang Mach- E and F-150 Lightning show us that the electrification of the other cars in Ford's lineup is not a distant vision.

Now, the announcement of Ford pouring in $20 Billion ( Rs 1, 49,710 crore) over the next few years has reaffirmed the brand's commitment towards electric vehicles.

Now, that is a huge sum of money and if all of that is poured into electric vehicles, it might just make Ford the best electric manufacturer in the world.

The amount would be used in research and development, manufacturing, and retail of electric vehicles.

Ford will also develop advanced charging hardware and create its own charging infrastructure.

At the moment, Tesla is the biggest electric car manufacturer in the USA and it might remain that way for quite some time.

However, Ford doesn't intend to leave it that way for a long time. Ford recently hired Doug Field to head its electric cars effort.

Doug Field helped Tesla in the development of the Model 3 and also helped in the development of Apple electric car.

Ford will double the production numbers of the F-150 Lightning. The brand is now working hard on putting things in place, in order to enable this .

Ford is investing $20 billion in electric car development. However, there is no question about Ford launching electric cars in India anytime soon .

The brand pulled out of the Indian market citing heavy losses and therefore, it might take a long long time for us to see the first fruits of this big investment.

America though will see it as early as 2023.

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