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Photo: Bill Pugliano / Getty Images

Ford Motor Co. plans to increase its investment in electric and hybrid vehicles to reach $11 billion by 2022, a major boost over previously announced plans to spend $4.5 billion by 2020, executives said Sunday at the Detroit auto show.

Why it matters: The expanded investment is another sign of how the world’s biggest car companies see electric vehicles eventually becoming a major market segment.

The company plans to expand its offerings to reach 40 electric and plug-in hybrid vehicles, including 16 fully electric models, according to accounts in Reuters, Bloomberg and elsewhere.

Electric vehicles are currently a minuscule portion of the global fleet, representing less than a percent of light-duty vehicles worldwide. But a number of countries — including China, the world’s largest auto market — are taking steps to expand their market penetration in the coming years and decades.

Last year the U.K. and France announced plans to phase out sales of gasoline- and diesel-powered vehicles by 2040. Forecasts vary, but on the more bullish side, the firm Bloomberg New Energy Finance projects that electric vehicles will account for 54 percent of new light duty vehicle sales worldwide by 2040.

“We’re all in on this and we’re taking our mainstream vehicles, our most iconic vehicles, and we’re electrifying them... If we want to be successful with electrification, we have to do it with vehicles that are already popular.”
— Chairman Bill Ford to reporters at the show, according to Reuters

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
2 hours ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”