The news that the corporation has established a new global business unit, Ford Model e, devoted to the development, manufacture, and distribution of electric and connected vehicles, builds on the news that was previously reported. These two business areas, along with Ford Pro, the division devoted to the company’s commercial vehicle division, will determine Ford’s future in Europe.
Ford anticipates that its annual sales of electric vehicles in Europe will surpass 600,000 units in 2026 thanks to its expanded lineup of passenger and commercial vehicle models. Ford also reiterates its commitment to achieving a 6% EBIT margin in Europe in 2023. Ford’s objective to sell over 2 million EVs globally by 2026 and achieve a company adjusted EBIT margin of 10% is supported by the acceleration in Europe.
The firm has said that it aims to achieve carbon neutrality across its European footprint of facilities, logistics, and suppliers by 2035 and zero emissions for all vehicle sales in Europe.
Ford today unveiled plans for seven all-electric vehicles to join the Ford family in Europe. There will be three new passenger vehicles and four new commercial vehicles, following the introduction of the all-electric Mach-E in 2021, Mach-E GT this year, and the launch of the E-Transit in the following quarter.
Ford will start producing a brand-new medium-sized crossover electric passenger car in Cologne, Germany, in 2023. In 2024, a second electric car will be added to the Cologne manufacturing lineup. Additionally, starting in 2024, Craiova, Romania will produce an electric version of Ford’s best-selling passenger car in Europe, the Ford Puma.
Four new electric vehicles for Ford’s Transit lineup will be available starting in 2023 with the all-new Transit Custom one-ton van and Tourneo Custom multipurpose vehicle and 2024 with the next-generation Transit Courier van and Tourneo Courier multipurpose vehicle.
A five-seat, medium-sized crossover will be the first mass-produced all-electric passenger vehicle to come out of the Ford Cologne Electrification Centre, according to Ford. Sports utility vehicles and crossovers made up 58% of all Ford passenger vehicles sold in the continent in 2021, an increase of over 20% from the previous year.
According to Ford, the all-electric crossover will push the company’s boundaries. The car’s name and its 500 km (310 miles) driving range on a single charge will be revealed later in 2022, and production will start in 2023.
The Ford Cologne Electrification Centre will produce 1.2 million electric vehicles over a six-year period as a result of the revelation that a second all-electric passenger vehicle, a sporty crossover, will be produced there. $2 billion is anticipated to be spent on the new electric passenger vehicles that will be produced in Cologne. A new battery assembly factory included in the venture will begin operations in 2024.
The corporation also plans to sell more than 600,000 electric vehicles in the area by 2026, as already mentioned.
The European push for EVs helps to accelerate the Ford+ strategy and the worldwide objective of producing 2 million or more EVs annually and having a 10% company adjusted EBIT margin by 2026.
With a total product investment of $2 billion, 1.2 million electric vehicles are now anticipated to be produced in Cologne, Germany, over a six-year period.
Ford also disclosed today’s signing of a non-binding memorandum of understanding with SK On Co., Ltd. and Koç Holding for the construction of one of Europe’s biggest facilities for the manufacture of commercial vehicle batteries in Turkey.
increases production of electric and commercial vehicles by acquiring Ford’s manufacturing operations in Romania through the Ford Otosan JV, subject to regulatory approval and consultation.
By combining these activities, Ford will achieve carbon neutrality across its European facilities, logistics, and supply chain by 2035, as well as zero emissions for all vehicle sales.
Ford today announced substantial advancements in Europe’s transition to an all-electric future, which will revolutionize the company and lead to the introduction of a new generation of seven fully connected, all-electric passenger cars and vans by 2024.
This action builds on the business’s recent announcement that Ford Model e, a new global business unit devoted to the design, production, and distribution of electric and connected vehicles, has been established. Ford’s future in Europe will be determined by these two business areas and Ford Pro, which is concentrated on the company’s commercial vehicle industry.
“I am encouraged by the speed of change in Europe, which is pushing our entire sector to create better, cleaner, and more technologically advanced automobiles. According to Jim Farley, president and CEO of Ford, “Ford is all-in and moving quickly to meet the demand in Europe and around the world.
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