Ford car maker today announced an investment of $ 1,000 million (€ 830 million) in the modernization of its plant in Cologne, Germany, with the aim of by 2030 selling only fully electric vehicles.
“Today, Ford is committed to the fact that by mid-2026, its entire range of passenger models in Europe will have a zero emission capacity, in an all-electric or plug-in hybrid configuration, ”says the North American manufacturer in a statement, stating that it will become“ an exclusively electric range ”by 2030.
Ford’s commitment to a fully electric future is reinforced, therefore, by this investment of $ 1 billion in a new production center of electric vehicles at its plant in Cologne, with the first electric vehicle of the American group Ford, mass produced and destined for European customers, leaving the new production lines in Cologne from 2023, the statement reads. .
Ford’s range of commercial vehicles in Europe will also have the ability to achieve the zero emissions in 2024, integrating fully electric and plug-in hybrid models that, by 2030, will represent two thirds of sales.
For the Dearborn giant, near Detroit, in the United States, maintaining Ford’s European leadership in the commercial vehicle business area “is essential for future growth and for the brand’s profitability”.
In this sense, the contribution that will have the presentation of new products and services, as well as Ford’s strategic alliance with Volkswagen and joint venture Ford Otosan, continues in the statement.
This announcement follows the news of Ford’s return to profitability in Europe, reached in the fourth quarter of last year, and that in early February it said it would double its electrification investments to more than $ 22 billion by 2025.
O president from Ford of Europe, Stuart Rowley, stated that the group successfully restructured the business and returned “to profitability in the fourth quarter of 2020”.
And he continued: “Now, we accelerate towards a fully electric future in Europe with the proposal of new vehicles and a world-class customer experience ”.
“This year, we hope to continue with this strong dynamic in Europe and remain focused on achieving the goal of achieving an EBIT margin of 6% as part of the company’s transformation plan for its global automotive operations”, stressed the manager .
In the past two years, after a difficult period, Ford’s activities in Europe have been drastically restructured by cutting 12,000 jobs and closing six plants.
Ford is currently collaborating with Volkswagen in the field of electrification, which was made possible thanks to an agreement announced in 2019, and the American manufacturer will be able to use the electric technological base “MEB” developed by the German giant.
In return, Volkswagen invested $ 2.6 billion in total in Argo AI, the rival’s autonomous car development subsidiary on the other side of the Atlantic.