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Ford says it will increase its supply of electric vehicles in Europe

A Ford installation in Cologne, Germany, photo taken in February 2021.

Oliver Berg | AFP | Getty Images

Ford has unveiled plans to roll out three new three-passenger electric vehicles and four new commercial electric vehicles in Europe by 2024, and the company says it expects to sell more than 600,000 electric vehicles a year in the region by 2026.

The automotive giant wants zero vehicle sales in Europe to be zero emissions by 2035.

In a statement on Monday, Ford said the rise would begin in 2023 with the production of a medium-sized electric cross in Cologne, Germany.

Then, the manufacture of another electric vehicle in Cologne will begin in 2024, and the electric version of the Romanian-produced Ford Puma will be available in the same year.

Ford said the expected EV production for Cologne would reach 1.2 million vehicles in six years. The investment in electric vehicles planned for the colony will be $ 2 billion.

In the field of commercial vehicles, four new electric versions of Ford’s Transit range will also be produced, starting in 2023.

Commenting on Monday, Ford of Europe President Stuart Rowley said that electrification is “the most transformative change in our industry in over 100 years.”

Read more about electric vehicles from CNBC Pro

Ford also said it had signed a non-binding agreement with South Korea’s SK On Co. and Koç Holding of Turkey. The MOU is responsible for the creation of a joint venture based on the development of a commercial EV battery facility near the Turkish capital Ankara.

If all goes well, factory production is expected to begin in the middle of this decade. Ford said JV had the support of the Turkish government and would have a capacity of 30 to 45 gigawatt-hours a year.

All of this comes at a time when the European Union is seeking to reduce the environmental footprint of transport.

The European Commission, the EU’s executive arm, aims to reduce CO2 emissions from cars and vans by 2035 by 2035. Turkey, where the battery facility would be located, is not part of the EU.

The UK, which left the EU in late January 2020, wants to suspend sales of new diesel and petrol cars and vans by 2030. From 2035 onwards, all new cars and vans must be emission-free.

Monday’s announcement said Ford would split its electric motor and internal combustion business into several units last week.

Ford is one of the largest automotive companies trying to expand its range of electric vehicles and challenge Elon Musk’s Tesla.

In March 2021, Volvo Cars announced its intention to become an “electric car company” by 2030. Elsewhere, the BMW Group says it wants to replace at least 50% of all-electric vehicles by 2030.

In February 2022, Nissan CEO Ashwani Gupta explained that his company had decided to move away from the development of new internal combustion engines in Europe after the introduction of stricter emission standards, known as the Euro 7.

Ford says it will increase its supply of electric vehicles in Europe

Source link Ford says it will increase its supply of electric vehicles in Europe

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