Ford: European unit shifts to electric vehicles
(CercleFinance.com) - Ford said on Wednesday that its European business is shifting focus away from petrol and diesel passenger cars, planning to move to all-electric vehicles by 2030.
The US carmaker today pledged that by mid-2026, 100% of its passenger car range in Europe will be zero-emissions, all-electric or plug-in hybrid vehicles.
The range will then become completely electric by 2030, Ford said, with two-thirds of its commercial vehicle sales coming from all-electric or plug-in hybrid by 2030.
The news comes after the auto giant recently returned to profit in Europe and announced that it was investing at least 22 billion dollars globally in electrification through 2025, nearly doubling its initial investment plans.
To ensure a smooth transition to its all-electric future, Ford plans to invest one billion dollars to modernize its vehicle assembly plant in Cologne, Germany, one of its largest manufacturing centers in Europe and the home of its European division.
In early morning trading, Ford shares were trading up 0.2% in a US stockmarket that was down slightly.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The US carmaker today pledged that by mid-2026, 100% of its passenger car range in Europe will be zero-emissions, all-electric or plug-in hybrid vehicles.
The range will then become completely electric by 2030, Ford said, with two-thirds of its commercial vehicle sales coming from all-electric or plug-in hybrid by 2030.
The news comes after the auto giant recently returned to profit in Europe and announced that it was investing at least 22 billion dollars globally in electrification through 2025, nearly doubling its initial investment plans.
To ensure a smooth transition to its all-electric future, Ford plans to invest one billion dollars to modernize its vehicle assembly plant in Cologne, Germany, one of its largest manufacturing centers in Europe and the home of its European division.
In early morning trading, Ford shares were trading up 0.2% in a US stockmarket that was down slightly.
Copyright (c) 2021 CercleFinance.com. All rights reserved.