18/03/2022

18 March 2022
18 March 2022, Comments Comments Off on Ford Europe commits to four all-electric commercial vehicles by 2024
Ford Europe commits to four all-electric commercial vehicles by 2024

Ford Europe has announced that it is accelerating its progress to an all-electric future and will introduce three new electric passenger vehicles and four new electric commercial vehicles in Europe by 2024; it plans to sell more than 600,000 electric vehicles in the region by 2026.

Reaffirming its leadership as Europe’s top-selling commercial vehicle brand, Ford’s iconic Transit range will include four new electric models – the all-new Transit Custom one-tonne van and Tourneo Custom multi-purpose vehicle in 2023, and the smaller, next generation Transit Courier van and Tourneo Courier multi-purpose vehicle in 2024.

Ford’s EV push in Europe supports the acceleration of the Ford+ plan, and global goal of 2 million+ annual production of EVs by 2026 and 10% company adjusted EBIT margin by 2026. Its pPlanned production of electric vehicles in Cologne, Germany, is now expected to be 1.2 million vehicles over six years, with a total product investment of $2 billion.

Additionally, Ford has signed a non-binding Memorandum Of Understanding with SK On Co., Ltd. and Koç Holding to create one of Europe’s largest commercial vehicle battery production sites in Turkey.

Ford is boosting its electric and commercial vehicle capacity, with Ford Otosan JV assuming ownership of Ford’s Romanian manufacturing operations, subject to regulatory approval and consultation.

Together, these initiatives aim to help Ford achieve zero emissions for all vehicle sales and carbon neutrality across its European footprint of facilities, logistics and suppliers by 2035.

This announcement builds on the recent news that the company has created a new global business unit – Ford Model e – focused on the design, production, and distribution of electric and connected vehicles. Together with Ford Pro, the business unit focused on Ford’s commercial vehicle business, these two business units will define Ford’s future in Europe.                                                                                 

“I am delighted to see the pace of change in Europe – challenging our entire industry to build better, cleaner and more digital vehicles. Ford is all-in and moving fast to meet the demand in Europe and around the globe,” said Jim Farley, Ford president and CEO.

“This is why we have created Ford Model e – allowing us to move at the speed of a start-up to build electric vehicles that delight and offer connected services unique to Ford and that are built with Ford-grade engineering and safety.” 

“Our march toward an all-electric future is an absolute necessity for Ford to meet the mobility needs of customers across a transforming Europe,” said Stuart Rowley, chair, Ford of Europe. “It’s also about the pressing need for greater care of our planet, making a positive contribution to society and reducing emissions in line with the Paris Climate Agreement.”

Starting in 2023, Ford will begin production of an all-new electric passenger vehicle, a medium-sized crossover, built in Cologne with a second electric vehicle added to the Cologne production line-up in 2024. In addition, Ford’s top-selling passenger vehicle in Europe, the Ford Puma, will be available as an electric version made in Craiova, Romania, starting in 2024.

“These new Ford electric vehicles signal what is nothing less than the total transformation of our brand in Europe – a new generation of zero-emission vehicles, optimized for a connected world, offering our customers truly outstanding user experiences,” said Rowley.

The all-electric crossover breaks new boundaries for Ford. Capable of a 500km driving range on a single charge, the vehicle and its name will be revealed later in 2022, with production commencing in 2023.

Ford’s manufacturing plant in Craiova, Romania, will play a significant role in the company’s electric and commercial vehicle growth plans in Europe.

The all-new Transit Courier, the popular light commercial vehicle, and Tourneo Courier, a compact multi-purpose vehicle, will also be produced in Craiova from 2023, with all-electric versions coming in 2024.

To further boost electric and commercial vehicle capacity, Ford announced that Ford Otosan will assume ownership of the Craiova plant and manufacturing business, subject to regulatory approval and consultation. Ford Otosan, a joint venture between Ford Motor Company and Koç Holding, is one of the longest running and most successful joint ventures in the global auto industry.

“We welcome this opportunity to grow our joint venture with Koc Holding and leverage this strategic partnership to better utilize our resources and know-how in Romania,” Rowley said. “Ford Craiova is today a strong success story, and we believe that through Ford Otosan’s experience and expertise in electrification and commercial vehicles it can reach even higher levels of achievement.”