Ford Announces The Mach 1
Ford plans to start selling an all-electric high-performance SUV in 2020 called the Mach 1. The automaker said at the Detroit Auto-show that the Mach 1 will be part of its increased push into electric vehicles. Ford also said it will invest $11 billion to create 40 new electric and hybrid vehicles that will be available by 2022. Sixteen of those, including the Mach 1, will be all-electric. This new announcement more than doubles Ford’s previous commitment to spend $4.5 billion on electrified vehicles. The company plans to greatly reduce the amount it spends on traditional internal combustion cars so that it can shift more money toward electric cars and autonomous technologies.