Ford plans to increase the cost of developing electric vehicles to billions of dollars and expects that by 2030 40 percent of its world sales will be on electric vehicles. This was announced today by the General Director of Jim Farley.
By 2025, Ford will spend $ 30 billion to expand its model range of electric vehicles. Earlier this year, the company planned to allocate $ 22 billion for these goals. It is worth noting that in this amount the capital is included, which will be directed to the construction and launch of two plants for the production of batteries in the United States together with the Korean SK Innovation. On plans to create a joint venture company were announced last week.
Farli, who joined the post of General Director of Ford last fall, must provide more detailed information on the company’s plans during the virtual presentation for investors. It is reported that by 2023, Ford plans to achieve an operating margin of 8% compared with about 4% in recent years. Previously, the company has already reported on the purpose of 8%, but did not call the deadlines.