If you’re looking for an EV in 2017, chances are it won’t be a Ford. Despite a pioneer in the creation of the actual motorcar itself, Ford has lagged behind its competitors when it comes to sustainable technology. The company’s first EV won’t be here for another three years, and up until now, it’s been more concerned with making hybrids than all-electric vehicles. However, new reports suggest that’s about to change, and it’s down to new management.
Ford’s former CEO, Mark Fields, recently got axed in favour of Jim Hackett, and now analysts are predicting Ford to go into the EV market in a big way. According to Electrek, Morgan Stanley analyst Adam Jonas has told clients Ford will be making a significant shift in how it spends its R&D budget. The note reads:
“We expect Ford to go ‘all-in’ on EVs. With an emphasis on pure EVs. Hybrids? Not so much. Prior management was vague with how its $4.5b investment in ‘electrification’ would be allocated. We are hopeful for a significantly upgraded level of transparency, given the pace of change in EV adoption and expenditure worldwide.”
The note talks about a $4.5 billion investment. This was announced before the switch in leadership, but sources at the time suggested it would be used for hybrid cars – not EVs. It now looks like Ford will basically skip most of its hybrid programme and move straight into developing electric cars.
That may sound drastic, but Ford is behind its main competitors right now, and needs to catch up. Chevrolet, Mercedes, Audi, Nissan and others all have robust EV programmes in place, and Ford really needs to speed up. It makes more sense, then, to focus on electric cars, rather than hybrid’s stepping-stone technology.
According to Electrek, Hackett has already brought back a former Ford executive from Uber to run the company’s EV and autonomous programme, so it looks like Ford is already refocusing its efforts.
