According to Ford, the move will create 11,000 jobs and enable the company to produce more than a million electric vehicles per year.
Ford, GM, and Stellantis (including its subsidiary Chrysler) have vowed that up to 50% of their car sales will be electric by 2030.
Beyond 2026, the company will start phasing out production of plug-in hybrids on the road to going all electric by the end of the decade.
Ford Motor Co. will more than double spending on electrified vehicles, amplifying its investment in a segment that the auto industry sees growing from what’s now just a fraction of the market.
The assembly line, driven by conveyor belts, reduced production time for a Model T to just 93 minutes by dividing the process into 45 steps.
Conceived by Henry Ford as practical, affordable transportation for the common man, it quickly became prized for its low cost, durability, versatility, and ease of maintenance.