Ford invests $ 1 billion in electric vehicle plant in Germany

GEORGES GOBET | AFP | fake images

Ford is investing a billion dollars in an electric vehicle production plant in Cologne, Germany, with the European arm of the auto giant pledging to go “all-inclusive” to electric vehicles in the coming years.

In plans announced Wednesday morning, Ford said its entire line-up of passenger cars in Europe would be “zero-emission capable, fully electric or plug-in hybrid” by mid-2026, with a “fully electric” offering. by 2030.

The investment in Cologne will see the company upgrade an existing assembly plant, turning it into a facility focused on the production of electric vehicles.

“Our announcement today to transform our Cologne facility, home to our German operations for 90 years, is one of the most important Ford has made in more than a generation,” said Stuart Rowley, president of Ford of Europe, at a statement.

“It underscores our commitment to Europe and a modern future with electric vehicles at the heart of our growth strategy,” added Rowley.

The company also wants its commercial vehicle segment in Europe to be zero-emission capable, plug-in hybrid or fully electric by 2024.

A ‘transformative’ decade

With governments around the world announcing plans to move away from gasoline and diesel vehicles, Ford, along with several other major automakers, is trying to increase its electric offering and challenge companies like Elon Musk’s Tesla.

Earlier this week, Jaguar Land Rover announced that its Jaguar brand would go fully electric starting in 2025. The company, which is owned by Tata Motors, also said that its Land Rover segment would launch six “pure electric variants” in the next year. five years.

Furthermore, South Korean automaker Kia will launch its first exclusive electric vehicle this year, while Germany’s Volkswagen Group is investing roughly 35 billion euros (about $ 42.27 billion) in battery electric vehicles and says it wants to launch approximately 70 fully electric models by 2030..

Last month, Daimler’s chief executive told CNBC that the auto industry was “in the midst of a transformation.”

“In addition to the things that we know well, to build, frankly, the most desirable cars in the world, there are two technology trends that we are doubling down on: electrification and digitization,” Ola Källenius told CNBC’s Annette Weisbach.

The Stuttgart-based firm was “investing billions in these new technologies,” he added, saying they would “propel our path to CO2-free driving.” This decade, he continued, would be “transformative.”


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