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Ford plans $11 billion investment, 40 electrified vehicles by 2022

Ford plans $11 billion investment, 40 electrified vehicles by 2022

Ford announced that it's reducing its commitment to passenger cars.

Ford blamed exchange rates and rising prices for the commodities used in its vehicles for the projected decline in 2018 adjusted earnings, in a statement and materials released ahead of a presentation to analysts by Chief Financial Officer Bob Shanks and Jim Farley, president of global markets. It said that including that extra payout, it expects to distribute about $3.1 billion in dividends for all of 2018.

"Notwithstanding this discipline of returning value to shareholders, we know we can better capture opportunities for growth, profitability and liquidity".

Speaking at the Detroit Auto Show, Mr Ford said the focus would be on electrifying existing Ford models without naming any specific cars.

Meanwhile, automakers should continue working to improve fuel economy and reduce carbon emissions in their vehicles, and they are. "Trying to get the company to be as fit as it can to compete in the categories it's always competed in".

The 2019 Ford Ranger is unveiled during the press preview at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2018.

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With gas prices still affordable, the economy booming, and unemployment low, analysts said U.S. consumers are preferring higher-priced, amenity-laden, large cars compared to more modest family sedans and small compacts.

GM said previous year it would add 20 new battery electric and fuel cell vehicles to its global lineup by 2023, financed by robust profits from traditional internal combustion engine vehicles in the United States and China.

The company's new goal is to develop 16 fully battery electric vehicles and 24 hybrid and plug-in vehicles by 2022 - and to offer electric versions of its most popular models.

In total, the company has committed to investing $11bn into the development of a wide range of electric vehicles by 2022. "We're not thinking about electric vehicles from a compliance perspective", Farley said. "So having an equation of higher prices on the one hand and further cost reductions on the other, that way we'll be able to keep our strong margin".

With regulators from Beijing to Sacramento cracking down on the internal combustion engine, there are few skeptics still questioning whether electric vehicles are in their future. On that front, the company has self-driving service collaborations with Dominos, Lyft and Postmates beginning this quarter though a series of pilot programs in a new city to be identified soon. That would be down from 2017's preliminary adjusted earnings of $1.78 a share. "It will just take 1-2 years to filter through into actual supply chain deals, [but it will bring] more demand pressure for after 2020", he said.

The No. 1 US automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets that will lose their value because of the lower USA corporate tax rate.


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