Ford plans to invest $1bn at its vehicle assembly facility in Cologne, Germany for production of electric vehicles (EVs).
The facility is one of the largest manufacturing centers in Europe which currently builds both Ford engines and cars, with an estimated capacity of 300,000 units per year. With this investment, the American car manufacturer plans to convert the existing facility into “Ford Cologne Electrification Centre” it said in a statement. The company expects all of its EVs for the European market to be built at this facility by 2023.
By 2026, the firm plans to convert all its passenger vehicle range in Europe to be 100pc zero emission, in either all-electric format or plug-in-hybrid. By 2030, the firm expects to be all-electric in Europe.