That investment is up from the $4.5 billion Ford had promised in last year.
As part of its electrification strategy, Ford will offer hybrid versions of its volume vehicles, including the F-150, Mustang, Explorer, Escape and the upcoming Bronco SUV. Ford says the hybrid F-150 in 2020 will offer more low-end torque for hauling and serve as a mobile generator, while the Mustang's hybrid system will be focused on providing more performance.
In Europe, the Transit Custom will get a plug-in hybrid version. Ford will also globally launch an all-electric performance SUV, teased with the Mach 1 moniker, with a 300-mile range.
"Throwing a charger in the trunk of a vehicle and sending customers on their way isn't enough to help promote the viability of electric vehicles," said Sherif Marakby, Ford VP of Autonomous and Electric Vehicles. "In addition to expanding our electric vehicle lineup, we are redesigning the ownership experience to ensure it addresses customer pain points that currently hold back broad adoption today." One of those solutions will be over-the-air updates, providing simple software fixes and reduce trips to the dealership.