It's Electric for Ford with $11 Billion EV Investment by 2022

Ford is going all-in on electric vehicles. At the Detroit Auto Show, the company announced a $11 billion investment in EVs by 2022, with at least 40 hybrid and all-electric vehicles by the same year.

"Ford will prepare for disruption by becoming fit," said Ford CEO Jim Hackett. "There's no doubt that we've entered this period of disruption, you all know that. But we have to design the business to be more fit because it's going to give us time, resources and flexibility to evolve to where we know we have to be."

The company plans on bolstering this investment by slinking away from the internal combustion engine and chopping certain vehicles, including its sedans.

Meanwhile, at last week’s Consumer Electronics Show, the company announced partnerships with delivery service Postmates and Qualcomm, for self-driving delivery vehicles and "vehicle-to-everything" technology, respectively.

But no investment touches the cool factor of this – at the Detroit Auto Show, Ford showed off its 2018 Mustang alongside the 1968 model driven by Steve McQueen in “Bullitt.”