Ford Promises All Electric "Mach 1" SUV in 2020, 40 Vehicles by 2022

Ford says it will spend $11 billion producing electric vehicles by 2022. One dubbed the "Mach 1" will be ready in 2020.

Ford is doubling down on electric vehicles as noted by an announcement of an All-Electric ‘Mach 1’ SUV coming in 2020.

In an announcement at the North American International Auto Show on Detroit, Ford said the performance SUV will be developed by the company’s Team Edison at an electric- and autonomous-vehicle plant being built in Detroit’s Corktown neighborhood, but revealed few other details.

The Mach 1 name has been used previously with Ford Mustangs. A short video that accompanied the announcement took a “Frankenstein” tone as it showed a Mustang and a Ford Explorer entering a factory building, then a series of lightning bolts flash and the front doors open to reveal....something fast.

$11 Billion Investment

Ford Motor Co will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup, Chairman Bill Ford said on Sunday at the Detroit auto show.

The investment figure is sharply higher than a previously announced target of $4.5 billion by 2020, Ford executives said, and includes the costs of developing dedicated electric vehicle architectures. Ford’s engineering, research and development expenses for 2016, the last full year available, were $7.3 billion, up from $6.7 billion in 2015.

Ford Chief Executive Jim Hackett told investors last October the automaker would slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.

Of the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids, executives said.

“We’re all in on this and we’re taking our mainstream vehicles, our most iconic vehicles, and we’re electrifying them,” Ford told reporters. “If we want to be successful with electrification, we have to do it with vehicles that are already popular.”

Public Ready?

Will this idea be accepted? One respondent thinks not.

All Hype, No Details

So far all we have is hype without details.

However, I strongly believe electric is the wave of the future, especially for most city drivers.

The auto industry is undergoing its first major change, ever, as I see it. And the revolution is on two fronts.

-Self-driving vehicles
-Electric vehicles

The doubters will be proven wrong, quickly, in both areas.

Mike "Mish" Shedlock

Comments (35)
No. 1-25
hmk
hmk

AS of today there is no business case to buy an EV unless of course you are a libtard wanting to go green. Can someone please do the math first. I have looked at Ford hybrids and even though there is no cost differential you have to replace the battery which wipes out any fuel savings. The only option would be to lease if you drive very few miles .

ClydetheRaven
ClydetheRaven

Assuming GM, Chrysler, etc. follow suit....what does that mean for the refined products like gasoline and crude in general?

stillCJ
stillCJ

Editor

And then, there is this

Greggg
Greggg

Just checked Drudge and this Yahoo article appeared about GM going electric and eliminate the steering wheel 284 comments to the article, didn't read them all, but haven't read any that are happy about it. here's one: But who BUYS them? What, we are to be good soldiers and BUY 17 million of these after losing driving privileges? Forget it. GM, YOU buy them. Notice, the consumers are NOT EVEN being asked! Here;s another: Gm stop smoking crack and designing cars. The ntsb waived conditions? wow aka government motors has friends in high government places. And Another: Self driving cars means the government can literally control where people drive and when they drive and a better system of tracking the people. Great huh... something the people don't want and they're shoving down our throats. So much for marketing departments. https://www.yahoo.com/news/us-carefully-review-gm-request-autonomous-car-chao-001531700.html