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takyon [soylentnews.org] writes:

Ford Motor Company plans to substantially increase its investment in electric vehicles [reuters.com]:

Ford Motor Co's plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows.

That money is pouring in to a tiny sector that amounts to less than 1 percent of the 90 million vehicles sold each year and where Elon Musk's Tesla Inc, with sales of only three models totaling just over 100,000 vehicles in 2017, was a dominant player.

[...] "We're all in," Ford Motor Executive Chairman Bill Ford Jr said of the company's $11 billion investment, announced on Sunday at the North American International Auto Show in Detroit. "The only question is, will the customers be there with us?"

[...] Investments in electrified vehicles announced to date include at least $19 billion by automakers in the United States, $21 billion in China and $52 billion in Germany.

Also at CNBC [cnbc.com].

Related: Ford Pumps Cash Into Company Creating Maps for Self-Driving Cars [soylentnews.org]
Ford Invests in Michigan's Autonomous Car Testing Grounds [soylentnews.org]

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