Ford Motor Co on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40% of its global volume be all electric by 2030 in a move to have investors value it more like a technology company. Under a plan dubbed "Ford+," the No. 2 U.S. automaker said it now expects to spend more than $30 billion on electrification, including battery development, by 2030, up from its prior target of $22 billion. In premarket trading, Ford shares were up about 2%.
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Ford boosts EV spending, aims to have 40per cent of volume all-electric by 2030 DETROIT :Ford Motor Co on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40per cent of its global volume be all electric by 2030 in a move to have investors value it more like a technology company.
FILE PHOTO: The Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. REUTERS/Wolfgang Rattay/File Photo
Ford Motor Co (F.N) on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40% of its global volume be all electric by 2030, sending shares up 6.8% to a near five-year high.
Ford Expects 40% of Global Vehicle Volume to Be Fully Electric By 2030 — Update morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.