Long-term, meaning 2020 and beyond, the plan calls for hybrids to be a high-volume and affordable powertrain option, with affordable battery technology, as work on electric vehicles continues.

Meanwhile, 2008 will be a busy year for Ford with six major vehicle launches and a couple minor ones—70 percent of the lineup will be new or upgraded. That figure jumps to 100 percent new by 2010, says Mark Fields, Ford president of the Americas.

The first major launch is the Ford Flex crossover that fills the vacancy left after the automaker stopped producing minivans. Even more key is the 2009 Ford F-150, which the automaker promises will be the most capable pickup in the marketplace in payload, towing, and features in general.

In addition to the MKS, Lincoln will upgrade the MKZ mid-size sedan as well as the Ford Fusion and Mercury Milan platform-mates. Hybrid versions of the Fusion and Milan also will launch this year.

Minor debuts include a pair of Mustangs: the Bullitt and the 2008 Ford Mustang Shelby GT500KR.