During a conference call with industry analysts and members of the media today, Ford Motor Co. CEO Mark Fields revealed that the company plans to introduce a long-range electric vehicle. Fields indicated, “when you look at some of the competitors and what they’ve announced, clearly, that’s something we’re developing for.”

Ford’s battery-powered offering would compete with cars coming from other manufacturers that are capable of travelling 200 miles or more on a single charge.

GM plans to begin sales of the Chevrolet Bolt in the fourth quarter of this year, while the Tesla Model 3 is anticipated to be available at the end of 2017. The next-generation version of the Nissan Leaf is also reported to be able to meet the 200 mile range between plug-ins.

Ford has committed $4.5 billion to develop 13 EVs and hybrids by 2020, increasing the proportion of electrified vehicles in its lineup to 40 percent from 13 percent today.

This fall, Ford will introduce an upgraded version of the Focus Electric which will offer a driving range of 100 miles, up from the 76-mile limit of the 2016 model.