- Ford plans to invest $1 billion over next 30 months
- All passenger car models in Europe will be available in electric version by 2026
American car manufacturer, Ford has announced its plans to introduce all-electric car models in Europe by 2030. The company will be investing $1 billion over the next 30 months to convert the vehicle assembly plant in Cologne, Germany to an all-electric vehicle facility. Interestingly, this would be Ford’s first electric vehicle facility in Europe.
The first European-built, all-electric passenger vehicle will be produced at the facility from 2023. Ford has a strategic alliance with Volkswagen AG, under which the company will use the MEB electric vehicle platform. By 2026, the company plans to have an electric version of all its passenger cars on sale in Europe.
By 2030, Ford plans to have two-thirds of its commercial vehicle sales in Europe to be fully electric or plug-in hybrids. The entire commercial vehicle range is expected to Go fully electric or offer a plug-in hybrid option by 2024.
