Ford COO Jim Farley said:

"Commercial vehicles are a critical component to our big bet on electrification. As leaders in this space, we are accelerating our plans to create solutions that help businesses run better, starting with our all-electric Transit and F-150. This Ford Transit isn't just about creating an electric drivetrain, it's about designing and developing a digital product that propels fleets forward."

The all-electric transit will be built in the US using both domestic and foreign parts. Ford describes the van as "smart and connected," with the ability to provide fleet operators with cloud-based services. It will also come with a FordPass Connect modem and an LTE WiFi hotspot that can support up to 10 mobile devices. In addition, it will come with Ford's driver-assist technologies, such as pre-collision assist with automatic emergency braking, pedestrian detection and lane-keeping system. The automaker hasn't announced its pricing and availability yet, but it promises to release more details about the vehicle at a later date.