That stands for “extended range electric vehicle,” basically plug-in hybrids with a small internal combustion engine to recharge the EV battery for more range. Ram and VW-backed Scout were the first to announce EREV plans, and now the Blue Oval is working on its own, according to Bloomberg. Ford is getting its clock cleaned by Tesla and GM on EV sales, so the automaker is turning to new powertrains to tide customers over while they wait for its Silicon Valley-based skunkworks team to crack the code on cheap EVs.