Automotive giant Ford announced the next steps on its road to electrification, with new commitments to electrify its fleet in Europe, and the beginning of a billion-dollar transformation of its vehicle assembly facility in Cologne, Germany.
Stuart Rowley, President, Ford of Europe, said:
“We successfully restructured Ford of Europe and returned to profitability in the fourth quarter of 2020. Now we are charging into an all-electric future in Europe with expressive new vehicles and a world-class connected customer experience.”
The company’s new commitments follow the announcement by Ford earlier this month of a major increase in its focus on vehicle electrification, including a pledge to nearly double its investment in EVs to at least $22 billion by 2025.
Ford’s new goals include reaching an all-electric passenger vehicle fleet in Europe by 2030, with an interim target of 100% zero-emissions capable, all-electric or plug-in hybrid vehicles by 2026. For its commercial vehicle range, Ford expects the entire lineup to be zero-emissions capable, all-electric or plug-in hybrid by 2024, with two-thirds of Ford’s commercial vehicle sales expected to be all-electric or plug-in hybrid by 2030.
Ford’s vehicle assembly facility in Cologne is one of the company’s largest manufacturing centers in Europe and the home of Ford of Europe. The $1 billion investment will transform the facility into the Ford Cologne Electrification Center for the manufacture of electric vehicles, the company’s first such facility in Europe. Ford also announced that the Cologne facility will produce the company’s first European-built, volume all-electric passenger vehicle for European customers from 2023, with the potential for a second all-electric vehicle built there under consideration.
“Our announcement today to transform our Cologne facility, the home of our operations in Germany for 90 years, is one of the most significant Ford has made in over a generation. It underlines our commitment to Europe and a modern future with electric vehicles at the heart of our strategy for growth.”