Car maker to boost investment in electric cars to $11bn by 2022.
Some high-profile names have committed to venturing in to the electric vehicle space, everyone from Google to Apple to GM and more. Now, Ford Motor Company, arguably one of the grandfathers of the transportation industry, has announced a multi-billion-dollar investment in its own EVs.
Of course, this isn’t Ford’s first mention of an EV initiative, but it is the largest dollar amount the company has committed to electric vehicles to date, more than $11 billion over just the next five years.
The announcement was made from the same stage of the Detroit Auto Show where Ford was unveiling the latest model of one of its gas-guzzling heavy pickup trucks, the Ford Ranger. While the company’s chairman stated there would be as many as forty vehicles in its lineup–a family of all-electric and hybrid vehicles–he was less clear on what those vehicles may be. However, he did state that these would not be newly designed vehicles: they would be electrified versions of previous longtime favorite Ford models.
Is it the future yet?
Much like our famed jetpacks, electric cars were supposed to be any everyday mode of transport by now. What’s the holdup? Apart from technology issues like batteries and charging stations, a lot of the delay seems to be from the dual function of the new technology. Several automakers are working in self-driving features while they’re overhauling the concept of building a car, and that’s something that takes a lot of testing and regulation.
While EV is a microscopic portion of the vehicle market right now, some big names are generating a lot of buzz surrounding the idea. Tesla’s soon-to-be-roadworthy all-electric semi truck is producing a lot of interest EV transportation, especially in the shipping industry. Naysayers, however, have already begun spouting about the massive amounts of kilowatt hours it will require simply to charge for the 30-minute boost the trucks need. One source claims that it costs the equivalent of 3,400 UK homes powered for one hour, just to recharge the truck; however, the same article fails to offer any information whatsoever on how many houses could be powered and for how long on the energy required to transport, refine, and burn diesel fuel for an equivalent amount of time and mileage.