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$ 1 billion investment from Ford to Germany

Ford, which has made progress in the production of electric vehicles in Europe, plans to turn all production into electric vehicles on the continent by 2030 and make a record investment in a factory in Cologne, Germany.

Ford European Manager Stuart Rowley told a news conference via video conference that $ 1 billion would be invested in renovating the plant in Cologne. Stating that this is one of Ford’s most important investments, Rowley said, “It shows our commitment to Europe and the modern future.

The new electric vehicle is expected to be launched in mid-2023. A second electric vehicle model is also planned to be produced at the Cologne factory. The investment is part of Ford’s goal of producing at least $ 22 billion in electric vehicles between 2016 and 2025. The Cologne factory employs 4,000 people. However, Ford’s management did not provide information on possible staff reductions.

The decision of the US-based car giant Ford was welcomed by German politicians. German Economy Minister Peter Altmaier described the investment as a “sign of self-confidence” and said Ford had made the necessary contribution to becoming climate-friendly in the automotive sector. The Prime Minister of North Rhine-Westphalia, Armin Laschet, also said the decision showed confidence in the region.

Cooperation with Volkswagen

Ford and Volkswagen signed a $ 1 billion alliance deal with electricity and autonomous vehicles a year and a half ago. Under the agreement, Ford is expected to use Volkswagen’s electric car mechanical frame.

Ford Europe Manager Rowley said the German factory would have a production base for zero-emission vehicles from Volkswagen’s mechanical carcass. With Ford’s agreement, Volkswagen will benefit from its huge investment in electric car production.

It was noted that this step was taken in order to introduce fully electric or hybrid versions of all Ford cars in Europe by 2024.

Ford estimates that all used cars in Europe will be electric by 2030, and two-thirds of commercial vehicles sold in Europe will be hybrid or fully electric by 2030. “Switch to fully electric vehicles,” Rowley told a news conference.

European automakers need to sell more electric vehicles to reach their carbon emissions targets. Manufacturers face severe penalties if they do not keep the average emissions of their fleets below the limit.

Ford and Turkey have partnered with Ford Otosan, which is in an alliance with Volkswagen to produce commercial vehicles, with countries that form the basis of profitability and growth in Europe.

AP, rtr / SSB, JD

© Deutsche Welle Turkish

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