Ford Invests $2 Billion to Produce EVs at German Plant

Ford Invests $2 Billion to  Produce EVs at German Plant
Ford Invests $2 Billion to  Produce EVs at German Plant

Ford has completed a $2 billion investment to convert its factory in Cologne, Germany, to build full-electric vehicles.
The plant will be the first in the company’s global production network to be carbon-neutral, Ford said in a statement.
Ford has agreements with local energy companies to supply renewable electricity and biomethane gas, while heat is supplied as steam from a nearby waste incineration plant, Automotive News Europe reported.
“The Cologne EV Center signals the start of a new era for Ford in Europe,” said Martin Sander, the head of the automaker’s EV business in Europe.
Ford will begin building the Explorer battery-electric compact SUV this year at the Cologne facility ahead of deliveries in early 2024.
The new EV is based on Volkswagen Group’s MEB platform and will compete against VW Group models on the same platform such as the VW ID4 and forthcoming Cupra Tavascan, as well as models such as the Nissan Ariya and Toyota bZ4X.
The plant currently builds the Fiesta small car, which will finish production next month. The date marks Ford’s exit from the small car segment in Europe after launching the Fiesta in 1976.
The Cologne plant will have capacity to build 250,000 EVs a year.
German Chancellor Olaf Scholz officially opened the converted factory with Ford Chairman Bill Ford on Monday.
Scholz welcomed Ford’s investment in the factory, saying the amount invested was the largest single amount spent on the plant, which has been building Ford cars since 1930.
“This is good news for Cologne, for the auto industry in Germany, for e-mobility and for the new era,” Scholz said in a statement.
Cars previously built at the Cologne plant include the Model A, Taunus, Capri, Granada and Fiesta. The facility has produced more than 18 million combustion-engine models, Ford said.

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