Ford, the second largest automobile company in the United States, is investing heavily in electric and self-driving cars.
Ford will invest a total of 29 billion dollars (about 32 trillion won) in electric and self-driving vehicles by 2025, Reuters and CNBC reported on the 4th (local time).
Specifically, it plans to invest $22 billion (about 24 trillion won) in electric vehicles and $7 billion (about 7.8 trillion won) in autonomous vehicles.
This is twice the size of the previous plan to invest $11.5 billion (about 12.9 trillion won) in the electric vehicle sector, including hybrid vehicles by 2022.
Jim Parley, Ford’s chief executive officer (CEO), said, “We will be committed to connected electric vehicles.”
In a statement, he said, “We are accelerating our plans,” saying that as well as expanding battery capabilities, more electric vehicles will be added to the future portfolio.
Ford’s electric car’All-in’ came out shortly after rival General Motors (GM), the largest US automaker, announced that it would stop selling fossil-fueled cars by 2035 and transform into an electric car company.
GM announced that it plans to invest US$27 billion (about 30 trillion won) in electric and self-driving cars by 2023, and that it plans to sell 30 types of electric cars worldwide by 2025.
However, the results of last year that Ford announced together on the same day were not very good.
Ford’s net loss in the fourth quarter of last year was $2.8 billion (about KRW 3.1 trillion), and the total annual net loss was $1.3 billion (about KRW 1.5 trillion).
The company predicted operating profit of 8 billion to 9 billion dollars in 2021 (approximately 8-9 trillion to 10 trillion won). It was sweet.
/yunhap news
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