American Automaker Ford is spending close to $20 billion as it shifts towards electric vehicles. This is is an addition to the $30 billion it will be investing in autonomous electric vehicle technology. Reports from Bloomberg say the company will spend close to $20 billion in reorganizing its business for electrification.
This will involve converting its factories from gas-powered to cleaner energy, and hiring more specialists. Although according to the report, Ford isn’t sure whether to turn its EV car segment into a special acquisition company (SPAC).
Rumours says that former Apple employee, Doug Field will be in charge of accelerating the shift to electric vehicles. He was head of Apple’s autonomous electric car project ‘titan’ before he left. Before that, he was Tesla’s chief vehicle engineer who helped in developing the popular Model 3.
Ford Motors US has halted customer reservations for its fully electric F-150 Lightning truck as it prepares for a 2022 delivery timeline. The company is looking to deliver the electric version of its popular F-150 truck before the middle of next year.
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It recently has received 200,000 refundable $100 early deposits for the electric truck and has now halted any new reservations. The company has made a serious commitment to this truck production by hiring more workers to meet demand.
Customers with reservations for the F-150 Lightning can spec out their truck in January 2022, while they wait for delivery. Other customers would have to wait till becomes available on the Ford website or buy from a dealership. Will Ford be able to accelerate to compete favourably against the likes of Tesla? Under the right leadership, it should actually be able to flex its production muscle.
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