A Fully Electric Ford Mach 1 for 2020

The new Chevrolet Corvette

It's a global investment for Ford, which will see it launch 40 models with new engine technology by 2022.

According to Hackett, Ford has "nothing to worry about" in the race to dominate the future of auto. It's still "too early", the company says, for any meaningful details unfortunately, beyond a teaser video showing it'll keep the existing truck's AC outlet that allows it to work as a standalone generator.

Shares of Ford (NYSE:F) are down about 3% in premarket trading after the company posted a guidance update as part of its Detroit Auto Show/Deutsche Bank Auto conference presentation.

"We are actively evolving our position to be more competitive", said Jim Farley, Ford executive vice president.

Sixteen of those, including the Mach 1, will be all-electric.

The US carmaker outlined aggressive electric vehicle plans over the weekend, bringing new excitement to the battery metals sector.

Speaking at the Detroit motor show, Ford has joined a growing number of vehicle manufacturers who have determined to reduce their carbon footprint.

Ford's new CEO, Jim Hackett, has been working on a new electrification plan since being appointed previous year.

It is worth noting that the name Mach 1 rings a bell because the name was previously used for a performance package variant of the Mustang that's dated all the way back to the 1969 model year.

During Ford's press conference in Detroit last night, Ford promised a hybrid F-150 would become a thing in the near future, as well as a high-performance fully electric vehicle wearing the Mach 1 name.

At the same time as announcing the Mach1, Ford also confirmed it had doubled its investment in electric vehicles to $11 billion (approx £8 billion) up to 2022.

The Ranger and, later, the Bronco will both be built at Ford's Michigan Assembly Plant.

Some of the electric vehicles will be produced with Ford's JV in China aimed at the Chinese market.

The vehicle will get a fully electric engine and all-wheel drive system. The company would then start an effort at targeting the electric vehicle market by 2025.

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