Ford plans to pour another $4.5 billion into electric vehicles by 2020

Ford Motor Co. says it will introduce 13 new electric vehicles worldwide by 2020, including an updated Focus sedan that will go on sale late next year. The new Focus will have fast-charging capability and an estimated 100-mile range, up from 76 miles in the current electric Focus. Ford also plans to introduce the Mondeo hybrid sedan and the C-Max Energi plug-in hybrid in China next year. Ford currently sells electric, hybrid and plug-in hybrid versions of its Focus, Fusion, C-Max and Lincoln MKZ sedans. Ford CEO Mark Fields says the company wants 40% of its global offerings to come in electric versions by 2020, up from 13% now. Ford says it will spend an additional $4.5 billion to meet its electrification goals by 2020. The company also announce it would change its focus from the vehicles themselves to the customer experience. “We are using new insights from anthropologists, sociologists, economists, journalists and designers, along with traditional business techniques, to reimagine our product development process, create new experiences and make life better for millions of people,” Ford’s executive VP of Product Development, Raj Nair, said in a statement.