Ford’s luxury Lincoln brand aims for half of sales to be electric vehicles by 2026


In this article

An electrified logo from Ford’s luxury Lincoln brand, which is accelerating its EV plans through 2030.

DETROIT – Ford Motor’s luxury Lincoln brand expects about half of its sales to be all-electric models by 2026, as it plans to offer new EVs across its portfolio of vehicles within the next decade, the company said Wednesday.

Ford announced last month it would accelerate the rollout of EVs under a new restructuring plan, called “Ford+,” led by CEO Jim Farley. The plan aims to bring in 40% of Ford’s global sales volume via EVs by 2030. 

“Lincoln will usher in a new era of electrified vehicles and connected experiences globally, and we plan to deliver a full portfolio of electrified Lincoln vehicles globally by the end of the decade,” Lincoln President Joy Falotico said during a media briefing.

Lincoln’s EV targets fall short of its largest American rival, Cadillac. The General Motors luxury brand has plans to exclusively offer EVs by 2030. Neither Lincoln nor Cadillac offer a fully electric vehicle in their current lineups as they attempt to catch up to EV leader Tesla.

Cadillac’s plans are part of a larger “aspiration” by GM to exclusively sell EVs by 2035.

Falotico said Lincoln will continue to offer plug-in hybrid electric vehicles as well as gas vehicles as the brand transitions to EVs. She declined to set a timeline for Lincoln to reach a 100% electric lineup, saying it will depend on customer demand, specifically in its largest markets of North America and China.

“We’re going all-in to be a fully electric brand, but we’ll do it as the customers adopt,” she told CNBC during an interview.

Lincoln said it will debut a new EV for China and North America next year as the brand celebrates its 100th anniversary. It will join the plug-in hybrid Aviator and Corsair SUVs.

Lincoln said its plans to launch four new EVs, however it did not disclose a specific timeframe for those vehicles. Falotico also declined to specify whether Lincoln’s new EVs will share names with their current four vehicles, including the well-known Navigator SUV.

Articles You May Like

Luxury car buyers shell out more than ever with ‘car payments that look more like mortgage payments’
Judge holds real estate giant Cushman & Wakefield in contempt in NY probe of Trump Organization
FTX signs a deal giving it the option to buy crypto lender BlockFi
Most workers want their employer to share their values — 56% won’t even consider a workplace that doesn’t, survey finds
The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy