Ford presented its plans to streamline operations globally and introduce a slew of new models including 40 electrified vehicles (16 fully electric ones) by 2022. The announcement was made at the Deutsche Bank Global Auto Industry Conference in Detroit.

In order to improve its operational efficiency, the American carmaker is looking to slash the number of orderable combinations on popular models such as the Escape, Fusion, and EcoSport from “thousands to just 10 to 20 combinations for each vehicle.”

Plus, Ford will begin to pursue alliances and acquisitions such as it did with Mahindra in India and Zotye in China.

Ford is also changing its product portfolio in the next few years, dropping its passenger car portfolio by 10 percentage points while increasing its SUV mix by the same amount. Additionally, they are looking at more “sub-segments of the utilities market” (aka niche) such as high-performance crossovers.

While all that’s happening, Ford will begin electrifying its vehicle range with a target of 40 electrified vehicles by 2022. The company says it’s on track to deliver a full battery electric performance SUV (rumored to called Mach 1) that offers at least a 300-mile (483-kilometer) range in two years time.

Regarding self-driving vehicles, Ford is focused on building an autonomous vehicle business, including a purpose-built vehicle, the self-driving technology and the operational infrastructure in parallel, which will allow it to scale quickly as it enters production in 2021.

“In 2017, F-Series extended its streak as America's best-selling pickup for the 41st straight year, we set a new company high for U.S. SUV sales and Lincoln had its best year since the turn of the millennium thanks to accelerated growth in China,” said Jim Farley, Ford executive vice president and president, Global Markets. “We have a rock-solid foundation and we have seen growth in key areas, but we know we must evolve to be even more competitive, and narrow our full line of nameplates in all markets, to a more focused lineup that delivers stronger, more profitable growth, with better returns.”