Ford announced it will invest $11 billion in 16 EV's and 24 hybrids. Ford Chief Executive Jim Hackett told investors last October the automaker would slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.
Ford’s president of global markets, Jim Farley, said Ford would bring a high-performance electric utility vehicle to market by 2020 as well as a hybrid version of the F-150 truck in 2020.
Some of the electric vehicles will be produced with Ford’s JV in China aimed at the Chinese market.
Looks like Ford doesn't want GM and others to get too far ahead. Of course, this likely means there will be a hybrid Silverado launched at the same time (or earlier?) to match Ford's effort.
In January 2018, Ford announced that it had 16 pure EVs under development on a global basis. It emphasized that those 16 all-new EVs were on a global basis, and that not all of those 16 were going to the U.S. market.
On February 15, Ford announced that six of these 16 EVs would be for the U.S. market: Ford Readies North America's Freshest Lineup by 2020 with Onslaught of Connected New Trucks, SUVs and Hybrids These six EVs will arrive by 2022. It also means that 10 of the 16 EVs will be for non-U.S. consumption, presumably including several specifically for the Chinese market.
Ford also reiterated that the first of these six EVs will indeed be a de-facto Tesla Model Y competitor - a compact crossover-SUV with at least 300 miles of range. This would be similar to a long list of competitors that will be bringing to market somewhat compact all-electric crossover-SUVs long before Ford.
Ford will have a total of six all-electric vehicles in the U.S. market by 2022, and 16 on a total global basis - so 10 of them not intended for the U.S. market.