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Ford's new electric F-150 Lightning outside of its headquarters in Dearborn, Michigan on May 19. Photo: Jeff Kowalsky/AFP via Getty Images

Ford announced Wednesday plans to invest $30 billion in vehicle electrification efforts by 2025, and the company said it anticipates that 40% of its global sales by 2030 will be fully electric vehicles, per a news release.

Why it matters: Ford CEO Jim Farley said the new initiative — called "Ford+" — is the company's largest opportunity for growth since "Henry Ford started to scale the Model T," signaling just how lucrative Ford leaders think the electric vehicle market will become.

  • As part of the initiative, Ford plans to invest in battery technology and infrastructure that would allow it to manufacture its own batteries.
  • It would include the creation of Ford Ion Park, "a global center of battery excellence comprising more than 150 experts in battery chemistries, testing, manufacturing and value-chain management who will boost battery range and lower costs to customers and Ford," the company said.

Context: Ford previously announced that it would invest $22 billion in electrification efforts by 2025.

What they're saying: “I’m excited about what Ford+ means for our customers, who will get new and better experiences by pairing our iconic, world-class vehicles with connected technology that constantly gets better over time,” Ford CEO said.

  • “We will deliver lower costs, stronger loyalty and greater returns across all our customers. This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T, and we’re grabbing it with both hands," he added.

The big picture: The announcement comes a week after the company unveiled the Ford F-150 Lightning, an all-electric version of America's most popular vehicle model, the Ford F-series pickup truck.

  • The company said it expects the bulk of its electric vehicle sales by 2030 will come from the F-150 Lightning, the Mustang Mach-E and E-Transit commercial vans.

Go deeper: Ford's electric F-150 reveal is a pivotal EV moment

Go deeper

3,000 unruly passenger reports made to FAA this year

Photo: Stefani Reynolds/Bloomberg via Getty Images

Airlines have reported some 3,000 cases of unruly behavior by passengers to the Federal Aviation Administration this year — including 2,300 for refusing to comply with face mask mandates, the FAA announced Monday.

Why it matters: Passenger numbers remain below pre-pandemic levels. But the FAA is investigating the highest number of suspected federal law violations since it began recording unruly passenger incidents in 1995, per ABC News.

House panel to investigate Trump-era DOJ data seizures

Photo: James Devaney via Getty Images

The House Judiciary Committee will launch a formal probe into the Trump-era Justice Department's seizure of data from devices belonging to members of Congress, their aides, journalists and then-White House counsel, panel chair Jerry Nadler (D-N.Y.) announced Monday.

Why it matters: Though it's so far unclear if the cases are related, they raise "serious constitutional and separation of power concerns," Nadler said in a statement.

3 hours ago - Politics & Policy

Scoop: Inside Biden's Putin prep

Photo illustration: Aïda Amer/Axios. Photo: Leon Neal (WPA Pool)/Getty Images

President Biden assembled a group of outside Russia experts — including former Trump officials — to brief him for his summit with President Vladimir Putin, people familiar with the matter tell Axios.

Why it matters: The previously unreported session demonstrates the extent to which Biden wants to be well prepared, drawing on the experience of officials with first-hand knowledge of the onetime KGB colonel’s tactics and tricks.