A top Ford Motor Co. F 0.53% executive said the company will now spend $11 billion on electrified vehicles through 2022, increasing its previous estimates as it races to catch up on battery-powered cars. The Dearborn, Mich., automaker previously committed $4.5 billion in spending on electrified products by 2020 and said in October it would divert an additional $500 million from conventional products—including gasoline-powered products—over a five-year span. The $11 billion commitment comes at a time when gasoline or diesel engines powered nearly all of the 90 million vehicles sold globally in 2017. Ford’s estimate was delivered during a press conference at the Detroit auto show, which opens this week. Jim Farley, Ford’s head of global markets, said the company aims to make its electric vehicles more attractive to everyday buyers than it […]