On Wednesday, Ford Motor Co said its automotive lineup in Europe will be all-electric by 2030 as the U.S. automaker races to get ahead of CO2 emissions goals and looming restrictions on fossil fuel cars in several countries.
In the next 30 months, the carmaker announced it would spend $1 billion to transform its automotive assembly plant in Cologne, Germany, to become the first hybrid vehicle factory in Europe for the United states automaker.
“This strengthens our dedication to the European countries,” Ford Head of European Operations Stuart Rowley said at a news conference.
Ford said the first European-built, all-electric passenger car will be assembled at the plant beginning in 2023 and is preparing to develop a second version there.
The automaker has a strategic partnership with Volkswagen AG, under which Ford will use the MEB electric vehicle platform of its German partner to develop several models. The framework from Cologne would be the first to use the Volskwagen MEB platform, Rowley said.
The U.S. automaker No.2 said it would have electric versions of all its passenger cars on sale in Europe by 2026 and that two-thirds of its commercial vehicle sales in Europe would be entirely powered or plug-in hybrids by 2030, And by 2024 it they will have available plug-in hybrid or fully electric versions of its entire range of commercial vehicles, the company stated.
At present, Ford continues to dominate the American and European gasoline-powered commercial vehicle markets with shares of 40% and nearly 15%, respectively.
The carmaker stated that its business in commercial vehicles is ‘key to future growth and profitability.