Ford Motor Co.’s gas-powered SUVs and trucks helped haul in an unexpected fourth-quarter profit, providing a down payment on the $29 billion the automaker plans to spend developing electric and autonomous next-generation vehicles.
The manufacturer almost doubled its planned spending on EVs Thursday to $22 billion through 2025, a response to the bold initiative outlined by General Motors Co., which aims to go to all zero-emission models by 2035. Dearborn, Michigan-based Ford also plans to spend $7 billion on driverless-car technology.
