Ford: Electric vehicles to be 40% of global sales by 2030

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DETROIT (AP) — Ford says it expects 40% of its global sales to be battery-electric vehicles by 2030 as it adds billions to the amount it’s spending to develop them. Ahead of a presentation to Wall Street on Wednesday morning, the automaker says it will add about $8 billion to its EV development spending from this year to 2025. That would bring the total to nearly $20 billion as Ford begins to develop and build batteries in a joint venture with SK Innovation of Korea. The company also announced it would create a separate business called Ford Pro to focus on commercial fleet buyers. It also expects to have about 1 million vehicles capable of getting over-the-internet software updates this year. Ford says it will have more vehicles with the feature than Tesla by July of 2022.

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