Ford Motor Co. F announced that it will be investing $4.5 billion in order to achieve the electrified goals by 2020. With this investment the company will be expanding its offering of hybrids and electric vehicles. This is the largest investment by the company for electrification in the five year time span. The automaker expects this investment will offer a better customer experience.
Ford plans to introduce 13 new electrified vehicles to its portfolio by 2020. By 2020 the automaker also expects that 40% of its portfolio will be converted into electric vehicles. At present only 13% of the total portfolio of the company are electric vehicles.
Next year, Ford will be introducing new Focus Electric, which is equipped with all-new DC fast-charge capability. This delivers 80% charge in 30 minutes. The vehicle also offers 100-mile range, which is higher than the 76 miles offered by the current electric Focus. With this, the new Focus Electric is two hours faster than the current Focus Electric. Focus Electric also features SmartGauge with EcoGuide LCD Instrument Cluster, which offers a multitude of customizable displays which enhances the efficiency of the vehicle. The other features in the vehicle are brake coach and agile steering and handling which gives the driver a more connected feel to the road.
Ford will also be launching Mondeo hybrid sedan and the C-Max Energi plug-in hybrid in China next year. There is a rising demand for electric vehicles. Ford initiative towards electric vehicle solutions will satisfy the trends for cleaner, more efficient vehicles.
Ford is also redefining future vehicles. The company will be focusing on customer-experience rather than only features-based product development.
Currently, Ford carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include O'Reilly Automotive Inc. ORLY, U.S. Auto Parts Network, Inc. PRTS and Fox Factory Holding Corp FOXF, all carrying a Zacks Rank #2 (Buy).
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