Ford has announced it’s accelerating investments and increasing planned total spending on electrification, including battery development, to more than $30 billion by 2025. It’s anticipating 40% of Ford’s global vehicle volume to be fully electric by 2030, including the Mustang Mach-E, the F-150 Lightning and E-Transit commercial vans.
Ford has also announced the creation of Ford Pro vehicle services and distribution business, fully dedicated to high productivity requirements of commercial and government customers.
It will be led by led by Ted Cannis, who’s been named CEO and a corporate officer. Cannis is currently head of Ford’s North America CV business and previously managed the Team Edison EV development group.
At the core of the new unit is Blue Oval Intelligence, Ford’s cloud-based platform for integrating electrical, power distribution, computing and software systems in connected Ford and Lincoln vehicles.
Ford CEO, Jim Farley, says: “I’m excited about what Ford+ means for our customers, who will get new and better experiences by pairing our iconic, world-class vehicles with connected technology that constantly gets better over time. We will deliver lower costs, stronger loyalty and greater returns across all our customers. This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T, and we’re grabbing it with both hands.”
Ford CFO, John Lawler, adds: “We’re fueling Ford+ by further strengthening our core automotive operations and generating consistently healthy cash flow that will fund growth and create value.”
Ford has previously announced it’s forming a joint venture, BlueOvalSK, with SK Innovation to manufacture battery cells and arrays at two plants in the U.S. for future Ford and Lincoln vehicles.