The Ford CEO [Jim Farley] confirmed this week that the automaker is increasing its electric vehicle investments. Now, we know that the Ford company has plans for other EVs, and Ford’s Lincoln luxury is still on the way.
Noticed in Ford’s 2020 fourth-quarter and the complete year financials, it appears that Ford will now invest $22 billion in “electrification” through the year 2025. Investments like that are nearly twice as much that Ford had committed to earlier.
Farley said, “People are responding right NOW, not tomorrow, to what Ford is doing in the electric vehicle arena.
· Improving costs
· Getting more EVs into the production line
· Increasing battery capacity
General Motors has announced several new EVs, which are based on a modular architecture plus battery system. GM has said recently that it aspires to eliminate tailpipes from the passage line by the year 2035. Also, the ALL electric Hummer is coming out shortly from the GM production line!
Ford is also launching the Mustang Mack-E, an E-Transit van plus an F-150 Electric truck will be a “true work truck”! Ford also plans to increase the manufacturing of their F150 Electric truck by 50% this year! The CEO of Ford recently announced that EVs will be a “fundamental” to the Lincoln brand; however, that is all he said without further details.
If Ford and GM are not enough to show a definite disruptive technology is heading our way, enter Toyota. The company said that in 2021 Toyota’s “all-electric” will be coming to the USA. In this lineup, you will have two battery EVs, one additional plugin hybrid model, and by 2025 plans to have 40% of the American EV market. Toyota didn’t say which EVs will capture this market size, but it was hinted at the Toyota crossover with the Subaru “European joint venture.” Now we see yet another prominent car manufacture coming into the EV marketplace!
In conclusion, you can see that Tesla is going full electric vehicles, but the other major car manufacturers are doing the same. Now, it’s the author’s opinion that Tesla is light years ahead of others, but competition is a good thing. This will also lead us into electric car sales as we have never seen before! And personally I can’t wait to see the tesla cybertruck!