Ford Motor plans to speculate $100 million in a plant in Missouri to supply an all-electric model of its Transit van, which the corporate is scheduled to unveil Thursday.

The funding is a part of Ford’s greater than $11.5 billion in spending on electrical automobiles by means of 2022, together with $3.2 billion put aside for a number of new all-electric automobiles such because the Transit van and an EV version of the F-150 pickup.

“We’re taking our most iconic automobiles and utilizing totally electrical know-how to ship much more efficiency, productiveness and functionality for patrons,” Kumar Galhotra, Ford president, Americas and worldwide markets group, mentioned in an announcement. “We’re constructing out the North American manufacturing footprint to help this progress. That is simply the primary chapter with extra new electrical automobiles and extra funding to return.”

The electrical van will go on sale in late 2021, adopted by the all-electric F-150 pickup by mid-2022. A brand new electrical crossover known as the Ford Mustang Mach-E is predicted to go on sale subsequent month.

The Transit EV will probably be produced at Ford’s Kansas Metropolis Meeting Plant, the place it should add 150 jobs for manufacturing of the van. The Mustang Mach-E is being assembled at a plant in Cuautitlan, Mexico. The electrical F-150 will probably be produced on the firm’s new Rouge Electric Vehicle Center in Dearborn, Michigan.

Ford additionally mentioned Tuesday it might improve manufacturing of the all-electric F-150 by 50%, but it surely declined to reveal particular manufacturing bulletins. 

The corporate is also investing $1.35 billion to remodel its Oakville Meeting Advanced in Ontario beginning in 2024 to incorporate next-generation battery-electric automobiles.