Ford to make massive P1.02 trillion investment to develop EVs  

Updated Feb 03, 2022 | Same topic: Automotive Industry Updates

The carmaker is aiming its crosshairs squarely at Tesla. 

Ford Motor Company is going all out in terms of sustainable mobility, with the company announcing a major reorganization. This will be underpinned by a colossal investment to develop and build electric vehicles (EVs), according to a report by Reuters.  

Ford F-150 Lightning

Ford is giving its EV spending a boost over the next decade

Using Tesla’s success as a road map, Ford will embark on a mission to convert its existing factories worldwide towards EV production. The plan, dubbed Ford+, aims to invest up to $20 billion (Php 1.02 trillion) over the next five to 10 years. This is on top of the automaker’s previous commitment to spend over $30 billion (Php 1.53 trillion) on EVs, including battery development, through 2025. 

Leading the charge is Doug Field, a veteran of Apple Inc. who previously worked with Tesla before joining Ford in 2021. He will be on top of the Blue Oval brand’s efforts in advanced technology and embedded systems. Field’s career background is likely the reason behind the push for Ford to evolve its image from being a carmaker to a technology company, especially in the eyes of its investors. 

Tesla Roadster

Tesla is currently the company to beat in the EV space 

As part of the plan, Ford is reportedly in talks to partially spin off its EV operations and capitalize on an electric startup environment that is currently enjoying positive investor sentiment. The company is also rumored to hire an unspecified number of engineers to work in areas such as battery chemistry, artificial intelligence, and EV software.  

Ford Chief Executive Officer Jim Farley wants to challenge Tesla’s leadership in the EV space, which has granted the tech company the enviable status of being the world’s most valuable automaker. Other brands such as General Motors and Volvo are following suit, fighting for a piece of the action in the competitive EV segment. 

“This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T,” he said in May 2021. “Our ambition is to lead the electric revolution.”

You only need to invest a little time and attention for our industry updates at

Know more about Ford


As of 2023, Ford Philippines has a total of 10 models. This includes the Ford EcoSport subcompact crossover, the Territory compact crossover, the Explorer midsize crossover, the Everest midsize SUV, the Expedition fullsize suv, the Ranger and Ranger Raptor midsize pickup trucks, the F-150 fullsize pickup truck, the Transit van, and the Mustang sports coupe. 

Besides the updated Ford price list Philippines 2023, Philkotse also hosts a list of the hottest car promos for the said brand. This includes low monthly payment promos, low downpayment promos, and cash discount promos.  

Joseph Paolo Estabillo

Joseph Paolo Estabillo


Joseph holds a degree in Journalism from the University of the Philippines Diliman and has been writing professionally since 1999. He has written episodes for CNN Philippines' motoring show Drive, and has worked on corporate projects for MG Philippines and Pilipinas Shell. Aside from being’s Content Lead, he also writes content for numerous car dealerships in the U.S., spanning multiple brands such as Alfa Romeo, Chrysler, Dodge, Jeep, and Maserati, among others.


View more