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Ford Ups EV Spending to $50 Billion Through 2026

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2021 Ford Mustang Mach-E

Ford Motor Co announced last week that it is increasing its electric vehicle investment to $50 billion through 2026, up from the previous $30 billion by 2025. The company also said it will run its EV unit separately from its combustion engine business.

Ford CEO Jim Farley said the company plans to build more than 2 million EVs in 2026, about one-third of its annual global production, with EVs rising to 50% of its total volume by 2030.

Even with the EV business, named Ford Model e, separated from the internal-combustion engine (ICE) unit, Ford Blue, the two divisions will share technology and "best practices," the automaker said.

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