SPY386.54-3.04 -0.78%
DIA314.19-1.40 -0.44%
IXIC13,358.79-230.04 -1.69%

DJ Ford's Move on Electric Vehicles Would Bolster Its Innovation With Green Implications -- ESG Insight

· 02/05/2021 11:13

Commentary by Ricardo Aceves, research analyst, ESG & impact investing

In an effort to catch up with Tesla and General Motors, Ford Motor is massively accelerating its investments in new technologies and electrification. The company plans to invest $22 billion through 2025 in electric vehicles and the digital technology involved in connecting them to the internet, as well as $7 billion in autonomous driving. This is a bold move that would reinforce the car maker's business model and innovation and place it head-to-head with other traditional auto makers in the race toward developing zero-emissions vehicles. Ford's announcement comes as its rival General Motors is getting more aggressive with its EV program and now plans to stop selling fossil-fuel-powered cars by 2035.

Write to Ricardo Aceves at ricardo.aceves@wsj.com

ESG Insights are written by The Wall Street Journal's ESG research analysts, whose commentary is independent of the news coverage by reporters at the Journal.

(END) Dow Jones Newswires

February 05, 2021 11:13 ET (16:13 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.