DEARBORN (dpa-AFX) - Ford Motor Co. (F) said that it will now spend $11 billion on electrified vehicles through 2022, increasing its previous estimates.
The company previously committed $4.5 billion in spending on electrified products by 2020 and said in October it would divert an additional $500 million from conventional products-including gasoline-powered products-over a five-year span.
'This $11 billion you're seeing, that means we're all in now,' Executive Chairman Bill Ford told reporters in Detroit.
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