Ford announces new EV production and profit goals for Europe
Ford is accelerating plans to sell more electric vehicles in Europe on its way toward reaching carbon neutrality in the region by 2035.
The automaker announced Monday that it will launch three new electric passenger vehicles and four new electric commercial vehicles in Europe over the next two years. The company also said it plans to sell more than 600,000 EVs annually in Europe by 2026 to support its 2035 deadline to go carbon neutral “across its European footprint of facilities, logistics and suppliers.”
These milestones are the latest in a recent string of announcements from the Dearborn automaker. Earlier in March, Ford said it will invest $50 billion, an increase over the previously stated $30 billion, toward its global goal to produce 2 million EVs annually by 2026.
At the time, the company said it would separate its EV unit, now called Ford Model e, from its combustion engine business, named Ford Blue.
The new generation of electric models in Europe will be built at Ford’s plants in Cologne, Germany and Craiova, Romania.
Ford also said Monday it signed a non-binding agreement with Korean battery manufacturer SK On Co. and Turkish conglomerate Koc Holding to build in Turkey one of Europe’s largest battery production sites for commercial vehicles.
Next year, Ford will begin making a medium-sized all-electric crossover in Cologne. In 2024, the company will add a second EV to the plant’s production line in addition to building in Craiova an electrified version of the Ford Puma, Ford’s top-selling passenger vehicle in Europe.
Ford’s bestselling vehicle in Europe, the Transit commercial van, will add four new electric models to its range. Electrified versions of the Transit Custom and Tourneo Custom vans are slated to arrive in 2023, with a smaller Transit Courier van and a Tourneo Courier multi-purpose vehicle to follow.
