Investment of 1 billion dollars in next 30 months
The carmaker said the company would invest $ 1 billion over the next 30 months to replace its vehicle assembly plant in Cologne, Germany. It will become Ford’s first electric vehicle plant in Europe.
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Production of electric passenger vehicle will begin from the year 2023
Stuart Rowley, Ford’s head of European operations, said during a press conference, “This reinforces our commitment to the European region.” Ford said the company’s first European-made electric passenger vehicle Production will begin from the year 2023. The company is considering making a second model there.
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Ford’s strategic alliance with Volkswagen AG
American carmaker Ford has a strategic alliance with Volkswagen AG, under which Ford will use its German partner’s MEB electric vehicle platform to build some models. Stuart Rowley said that the model out of Cologne would be the first to use Volkswagen’s MEB platform.