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Ford said it will invest $1 billion over the next 30 months to convert its vehicle assembly plant in Cologne, Germany, to become the U.S. automaker’s first electric vehicle facility in Europe.
View PhotosFord said its first European-built, all-electric passenger vehicle will be produced from 2023
Ford Motor Co on Wednesday said its car lineup in Europe will be all-electric by 2030 as the U.S. automaker races to get ahead of CO2 emissions targets and looming bans in some countries on fossil fuel vehicles.
The carmaker said it will invest $1 billion over the next 30 months to convert its vehicle assembly plant in Cologne, Germany, to become the U.S. automaker’s first electric vehicle facility in Europe.
“This reinforces our commitment to the European region,” Stuart Rowley, head of Ford’s European operations, said during a news conference.
Ford said its first European-built, all-electric passenger vehicle will be produced at the facility from 2023 and is considering building a second model there.
Ford said it will have plug-in hybrid or fully-electric versions of its entire commercial vehicle range available by 2024.
The carmaker has a strategic alliance with Volkswagen AG, under which Ford will use its German partner’s MEB electric vehicle platform to build some models. Rowley said the model out of Cologne will be the first to use Volskwagen’s MEB platform.
The No.2 U.S. automaker said that by 2026 it will have electric versions of all its passenger cars on sale in Europe and that by 2030 two=thirds of its commercial vehicle sales in Europe will be fully electric or plug-in hybrids.
The company said it will have plug-in hybrid or fully-electric versions of its entire commercial vehicle range available by 2024.
Ford currently dominates the U.S. and European markets for gasoline-powered commercial vehicles with shares of 40% and almost 15%, respectively.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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