GM and Ford announce major electric vehicle plans

How Ford Will Join the Electric Car Revolution

So more trucks such as the Ford Ranger, potentially a Bronco (nee Everest) for Australia from 2020, the possibility of a Chinese-made Focus, and a very uncertain future for the Fiesta here, despite an all-new model launching in left-hand drive form overseas. It stands to reason that a considerable amount of capital could be saved by not having to pay a supplier for the development and production of electric motors to be used in such vehicles.

Ford likewise announced it will reduce spending on internal combustion engines by one third and instead invest in electric and hybrid cars - on top of a previously announced $4.5 billion investment in the sector.

Every auto company is attempting to figure out that future, in which electrified vehicles, increasing autonomy, pervasive connectivity, and car-sharing all blend together in unpredictable ways. They've explained what they do and how they do it.

The industry outsider on Tuesday afternoon will lay out for investors his strategic plan for the 114-year-old automaker. The stock is up 1.7% this year, trailing Ford's USA peers and the benchmark Standard & Poor's 500 Index. Ford shares had risen 2.1 per cent on Tuesday, up with other automotive stocks as the industry reported the highest sales pace in a dozen years.

Signs are growing that Ford is preparing a major electric-car development effort. In his first deliberate overhaul since being assigned as the CEO Hackett tried to equipoise keenness for the future with solemn evaluation of the disconcerting trials Ford faces today. The former CEO had come under fire for missing some of those financial targets - even though Ford had delivered its best-ever annual earnings under his rein. To be clear, Ford is not moving completely away from gas-combustion engines.

Jim Farley (Head of Global Markets), while conversing with investors said that Ford is carefully weighing the gainful and nonpaying businesses in Latin America and Europe and is looking for alliances there.

That was reinforced Monday when crosstown rival GM, which already sells the long-range electric Chevy Bolt, announced plans to have 20 battery-powered cars on the road by 2023.

President of Global Operations, Joe Hinrichs said that the making of electric vehicles needs less monetary investment and 30 % decreased labor hours on each auto. Under Hackett's vision, that'll drop to just 96.

That practice led to much misreporting this year on plans by Volvo and Jaguar Land Rover, among others, to make all future products capable of accepting at least mild-hybrid powertrains.

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