Ford is planning to offer a Mustang-inspired battery-electric SUV that could drive 300 miles on a charge in 2020, according to the company executive in charge of Ford's electrification initiative.

Darren Palmer made the announcement in a Medium blog post. Palmer, Ford's Team Edison global product development director, also discussed the development of the next-generation Mustang, which he is leading. Team Edison is Ford's new team that's been tasked with rolling out a lineup of electrified vehicles for Ford and Lincoln vehicles.

Ford plans to introduce 16 fully electric vehicles within a global portfolio of 40 electrified vehicles by 2022. Ford has invested $11 billion in this initiative.

"The electric vehicle market overall is accelerating at an exponential rate, with each individual market presenting its own unique challenges," Palmer wrote. "It's an exciting time to be bringing forward a winning portfolio of electrified vehicles.