Ford will announce its new expansion plan in the middle of this month, investing more than $50 billion in electric vehicles.

February 8 news, according to foreign media reports, Ford executives will announce a new Ford + expansion plan at a meeting scheduled for February 15.

Ford CEO (CEO) Jim Farley (Jim Farley) and his team will explain at the meeting how they plan to reduce costs and improve quality.

Like most carmakers, Ford is trying to shift to a broader electrification of cars. In order to remain competitive and take the lead in the new era of smart connected electric vehicles, the company plans to invest more than $50 billion (currently about 339.5 billion yuan) between 2022 and 2026. used in the research and development of models and power battery technology in the electrification field.

In addition, according to foreign media reports, Ford plans to sell 600000 electric vehicles a year in Europe by 2026. The company has said its passenger cars in Europe will be fully electric by 2030.

However, foreign media say Ford has encountered many difficulties in its transition to an electric vehicle, as its recent financial report shows.

Earlier this month, Ford reported results for the fourth quarter of 2022 and the full year of 2022. The company reported fourth-quarter revenue of $44 billion (currently about 298.76 billion yuan), up 17% from a year earlier and higher than market expectations of $39.8 billion. But the company's net profit was $1.3 billion (currently about 8.827 billion yuan), down from $12.3 billion a year earlier. In addition, the company's earnings per share fell short of analysts' expectations of 62 cents a share.

For the full year of 2022, the company posted a net loss of $2 billion (currently about 13.58 billion yuan) and adjusted profit before interest and tax of $10.4 billion. The company expects adjusted EBIT to be between $90 and $11 billion in 2023.