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Monday 8 February 2021

Ford posts strong results, promises big bet on electric and self-driving cars

Ford reported surprisingly good financial results at the end of a tough year, and said it was increasing its commitment to vehicles of the future with a big bet on electric and autonomous driving vehicles.

The company said it will invest $29 billion in EVs and AVs. It will require a bit of a catch-up by Ford, which just came out with its first EV in years, the Mustang Mach E.

While Ford's statement spoke about taking a leadership position in EVs and AVs, some of its larger rivals are much further along in shifting to electric vehicles.

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