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Ford is increasing its investment in electric and autonomous vehicles to $29 billion, the company’s top executives said in an earnings call Thursday. The automaker had previously committed to spend $11.5 billion on electrifying its vehicle lineup through 2022. Now, Ford says it will spend double that amount, while extending the timeline to 2025.
The automaker will spend $7 billion on autonomous vehicles and $22 billion on electric ones. That $22 billion includes $7 billion that the company has already spent since 2016.
Ford said a majority of vehicles it plans on producing will be battery-electric vehicles, but the company also has hybrid and…
