Ford kicked off the New Year with a stunning announcement that it would greatly expand its production of electrified vehicles—including a hybrid version of the iconic Ford Mustang, which is set to debut in 2020. Ford is investing $4.5 billion in electric vehicles and what makes these products even more cutting edge is that some will be EcoBoost hybrids.

“As more and more consumers around the world become interested in electrified vehicles, Ford is committed to being a leader in providing consumers with a broad range of electrified vehicles, services and solutions that make people’s lives better,” said Mark Fields, Ford president and CEO. “Our investments and expanding lineup reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years.”

At a press conference held at the Flat Rock Assembly plant in Michigan the company previewed seven of its electrified vehicles, including the aforementioned Mustang hybrid. Among those new products will be a fully electric small SUV, a high-volume autonomous vehicle for ride sharing services, a hybrid F-150 pickup, and a Transit Connect plug-in hybrid. Ford will also produce two new pursuit-rated hybrid police vehicles.

“Ford’s global EV strategy is to build on our strengths,” said Raj Nair, executive vice president, Product Development, and chief technical officer. “While some others seem to be focused on marketing claims and numbers, we’re focused on providing customers even more of what they love about their Ford vehicles. This means more capability for trucks, more productivity for commercial vehicles and more performance for sports cars—plus improved fuel economy.”

It will be interesting to see how Mustang traditionalists react to a hybrid Mustang, but Mark Fields promises the new powertrain will deliver performance and efficiency.

“Mustang hybrid will deliver V-8 power and great low-end torque to make it even more fun for our customers, starting here in North America,” he added.