Ford has announced a $22 billion project to switch to full-electric
DUBLIN: Leading American multinational automaker Ford is moving to fully electric. Ford has announced major changes as part of a $22bn (€18.22bn) global plan to strengthen the brand into the electric age. The company says it will switch to full electric by 2030.
The company has announced that by mid-2026, all its passenger cars in Europe will be capable of zero emissions and all of them will be electric and hybrid. Commercial series in Europe will also have 100% zero emissions by 2024. The company expects two-thirds of commercial vehicle sales to be all-electric or plug-in hybrid by 2030.
From now until 2025, at least $22 billion will be invested in global electrification. This is double the previous electric vehicle (EV) investment. It also includes a $1bn (€830m) project for a new electric vehicle manufacturing centre in Cologne.
The company’s first European-made electric passenger car will start production from 2023. The announcement of the new plan comes after the company turned a profit in Europe in the fourth quarter of last year.
Stuart Rowley, President of Ford of Europe, said that company describes the project as an important step in the transformation of Europe. He added that the project focuses on expanding the commercial vehicle business using ecosystems in collaboration with customers.
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