The Detroit-based company previously said that it would invest $4.5 billion in electric products by 2020, and on Sunday it said that this number would rise to $11 billion.
"The 11 billion you're seeing means we're all-in now," Xinhua quoted Ford as saying. He added that the only question is whether the customers will be there with them.
Ford believed that the answer would be positive.
"We want to show that the company is electrifying all iconic vehicles," said Jim Farley, President Global Markets for Ford.