22.3 C
New York
Friday, May 24, 2024

Ford to increase its investment in autonomous driving and electric cars

The US automaker is doubling its funds previously earmarked for electric cars by 2025.

Ford wants to focus more on cars with electric drive and in autonomous driving in the future. A total of 29 billion US dollars are planned for investments in the two areas over the next few years, said the US automaker.

Electric cars alone will account for around 22 billion US dollars of this by 2025. According to Ford, that is almost twice as much as the group had previously planned for the area. Ford wants to focus primarily on its strengths pickups, delivery vans and SUVs. The Mustang Mach-E will be followed by an electric Transit this year and the F-150 pickup next year.

Minus bottom line

Ford plans to provide 7 billion US dollars for the development of autonomous cars; In 2018, the company had announced that it would invest $ 4 billion in this area by 2023. In addition, the group already entered into a cooperation with Google a few days ago . From 2023, the infotainment systems in millions of Ford vehicles are to be operated with Google’s Android.

Last year was not favorable for Ford, also due to lower demand as a result of the coronavirus pandemic. Annual sales fell 18 percent to 156 billion US dollars, and market share fell from 6 to 5.8 percent. The bottom line is a loss of 1.3 billion US dollars.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.