The charge is on as Ford ‘shocks’ everyone and follows Jaguar Land Rover’s ‘Reimagine’ program by announcing the automaker will only sell electric cars by the end of the decade. Ford went on to say its commercial models would also be 100% zero-emissions capable, all-electric or plug-in hybrid by 2024.
Ok, it’s not the most unexpected news you’re likely to have scrolled in front of those rapidly closing eyes today with Ford reporting a return to profit in the fourth quarter of 2020 in Europe. The company made the bold move to announce it would be investing at least $22 billion globally in its electrification program through 2025, nearly twice the company’s previous EV investment plans. As of yet, there’s no sign of any buzz-word being thrown into the electrical equation but we think ‘Fordulation’ has a decent sound to it.
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.
“We expect to continue our strong momentum this year in Europe and remain on track to deliver our goal of a six per cent EBIT margin as part of Ford’s plan to turnaround our global automotive operations.”
Spearheading the charge into green Oval badges will be Ford’s vehicle assembly facility in Cologne, Germany which is about to have $1 billion investment thrown in its direction as part of the modernization process.
In short, that means Cologne, one of its largest manufacturing centres in Europe will be producing it’s first European-built, volume all-electric passenger vehicle for European customers at the facility from 2023, with the potential for a second all-electric vehicle built there under consideration.
Rowley went on to say:
“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.
“The decision to make the production and development site in Cologne the e-mobility centre for Ford in Europe is an important signal to the entire workforce,” said Martin Hennig, chairman of the General Works Council of Ford-Werke GmbH. “It offers a long-term perspective for our employees and at the same time encourages them to help shape this electric future.”
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