Ford Motor Co (F.N) will announce on Wednesday that it is developing two dedicated all-electric vehicle platforms, one for full-size trucks and SUVs, the other for cars and smaller SUVs, as part of a strategy to catch General Motors Co (GM.N), Volkswagen AG (VOWG_p.DE) and Tesla Inc (TSLA.O) in the global electrification race, sources familiar with Ford's plans said.

The all-EV platforms are part of an ambitious multi-year, multi-billion-dollar plan the No. 2 U.S. automaker will outline to investors at its Capital Markets Day in an online event.

The dedicated platforms will give Ford common architectures — including shared chassis components, electric motors and battery packs — on which to base many of its future electric vehicles. That will enable it to simplify and reduce the expense of everything from logistics to manufacturing as it transitions from a global lineup of mostly fossil-fueled products.

Ford said it does not comment on future product speculation.

At Wednesday's investor event, the company also will provide more details on its long-range battery strategy, including a recently announced battery joint venture with Korea's SK Innovation (096770.KS), as well as broader goals for electric, commercial and self-driving vehicles, said the sources, who asked not to be named.