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

If you had doubts about Ford’s commitment to electric vehicles, then maybe CEO Mark Fields can remove them. This morning, Fields announced that his company intends to invest $4.5 billion into electric vehicles over the next five years, and will release thirteen new electric vehicles by 2020, including an updated Ford Focus sedan that’s expected to go on sale in late 2016. On top of that, Ford wants 40% of its global offerings to come in electrified versions by 2020, which is a significant increase over the 13% that it’s at now. Only time will tell how much of this Ford actually achieves, but it’s nice to see another major automaker taking electric vehicles seriously.