Not only is cutting greenhouse gas emissions a key priority in the highly lucrative
"There's been a lot written about the electrification of our industry," Ford CEO Jim Farley said during a third quarter earnings call with analysts on Wednesday. "Ford's bet is different. We're betting on a full lineup of commercial electrified vehicles."
He previewed the van announcement during the call and the company released initial detail early Thursday with a promise of more in mid-November.
This latest news is a "milestone" in the company's $11.5 billion commitment to investing in electrification, Ford said in a news release.
The Ford Transit cargo vans saw a 12% spike in average transaction price to $43,275 during the third quarter, its highest in five years, according to
Demand helps drive higher prices.
A strategy for Ford, now, is transitioning buyers to all-electric.
"We're kind of in the first inning of this transition of the industry to a battery electric future," Farley said. "We're getting more and more excited about an electric future ... and our capital is following."
Ford doesn't want to be just one of many automakers transitioning into electrification, he said. "We want to lead the electric change. That's why we've committed to
"Bill Ford gets it," Newsom said in mid-September.
The Democrat revealed a plan to phase out sales of new, gas-powered cars and trucks by 2035, though people could still own them and buy them used.
"Cars don't need to pollute our air or melt our glaciers," Newsom tweeted
He retweeted a Farley post that said, "Fighting to Reduce Greenhouse Gas Emissions"
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