Ford to invest more money into electric, connected trucks and SUVs

The push for electric vehicles is on the rise. GM recently announced that it was planning to release at least 20 electric cars by 2023. Likewise, Ford is now making the push for more electric SUVs and trucks.

Ford Motor Company’s new CEO Jim Hackett on Tuesday announced that the company will invest more funds in development for new electric vehicles, all the while cutting funds spent on cars and internal combustion engines.

Hackett was formally the head of Ford Smart Mobility and is now the president and CEO since May of this year. He has spent the last four months evaluating the best course of action for Ford. Hackett came to the conclusion that while Ford is still a leader, the company is lagging behind rivals such as General Motors when talking about autonomous technologies.

“When you’re a long-lived company that has had success over multiple decades the decision to change is not easy – culturally or operationally,” Hackett said Tuesday in a news release. “Ultimately, though, we must accept the virtues that brought us success over the past century are really no guarantee of future success.”

According to the presentation, Ford will now turn its focus to “smart and connected” vehicles that will, “thrive in a new transportation operating system.” In addition, the company says they will be offering internet connectivity to all of its US-bound models by 2019 and 90 percent of its vehicles sold worldwide by 2020.

Hamza Khalid

Hamza Khalid is the Lead Editor at The Jolt Journal. You're more than welcome to follow him on Twitter and follow The Jolt Journal on Twitter and Facebook. If you have any questions, concerns, or need to report something in this article, please send our team an email at [email protected]. This story may be updated at any time if new information surfaces.

At The Jolt Journal, no one tells us what to write or how to write it. This is why, in the era of lies and bias, readers turn to an independent source. Rest assured, all information on our website is free of any bias or influence. If you see anything wrong with a story, please don't hesitate to reach out. We do our very best to report on the latest available information.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.