Ford To Spend More On EVs Than On ICE Vehicles In 2023
Ford Motor Company (NYSE:F) is set to invest more in electric vehicles than on internal combustion engines as of 2023, according to a top executive. Q2 2021 hedge fund letters, conferences and more Electrifying popular modelsDuring a Barclays’ bank event, Lisa Drake, chief operating officer for North America, pointed to 2023 as the target to achieve such a feat. As reported by The Detroit News, Ford said it was increasing its investments in electrification to $30 billion through 2025. Drake said during the gala: “In 2023 ... we’ll spend more on EVs than we will on ICE.” “We've been over the mo...