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Ford to release seven EVs in Europe; spends $2 billion

If you feel starved of electric vehicles in Europe, that will soon stop as Ford has confirmed it will release seven EVs on the continent by 2024.

It will soon be raining Ford-branded EVs in Europe as the American automaker is trying to fulfill its promise of going all-electric in Europe. EV lovers can expect seven Ford electric vehicles covering multiple segments before the end of 2024, less than two years away.

Ford wants to sell 600,000 units of fully electric vehicles by 2026 in Europe and will invest $2 billion to make it happen. By 2035, Ford will only sell EVs in Europe and achieve complete carbon neutrality across all its operations.

Globally, half of all Ford’s production will be all-electric by 2030.

The $2 billion investment will go into converting a plant in Cologne, Germany, into Ford’s first EV production facility in Europe. It means Ford will join fellow American company, Tesla, in making EVs in Germany. The site will produce 1.2 million vehicles in six years.

Ford will make three new passenger vehicles, including a five-seat sport crossover that will offer a 311-mile range and an electrified Puma, Ford’s compact crossover, which it has been selling in Europe. The latter will be made in Romania, starting from 2024. Ford has not provided details about the third passenger vehicle.

The remaining four EVs are for commercial applications and will see Ford electrifying its Transit Courier and Tourneo Courier vans.

Ford is also planning to produce batteries, and it will jointly build a plant in Turkey with SK On Co, a subsidiary of South Korean SK Innovation. This is in addition to another plant planned in the US.

Ford has a lot to cover as it tries to catch up with Tesla, the leading EV company globally. The former sells far more vehicles, but the latter has a far higher market capitalization. However, Ford has its work cut out for it competing with other legacy auto companies trying to unseat Tesla.

To get to the top in EV manufacturing, Ford has announced it is doubling its production of its highly anticipated electric pickup truck, the F-150 Lightning, an electric version of its best-selling ICE F-150. Part of Ford’s strategy to accelerate its EV efforts is to produce electric versions of its popular ICE models. That trick has worked with the Ford Mustang Mach-E, and there is no doubt we will see more of it down the road. Ford plans to makeover 200,000 units of the Mach-E per year by 2023.

“I am delighted to see the pace of change in Europe – challenging our entire industry to build better, cleaner and more digital vehicles. Ford is all-in and moving fast to meet the demand in Europe and around the globe,” said Jim Farley, Ford’s president, and CEO.

“This is why we have created Ford Model e – allowing us to move at the speed of a start-up to build electric vehicles that delight and offer connected services unique to Ford and that are built with Ford-grade engineering and safety.”

“Our march toward an all-electric future is an absolute necessity for Ford to meet the mobility needs of customers across a transforming Europe,” said Stuart Rowley, chair, Ford of Europe. “It’s also about the pressing need for greater care of our planet, making a positive contribution to society and reducing emissions in line with the Paris Climate Agreement.”

Written by HackerVibes

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