Ford has promised to make its European passenger car range all-electric by 2030, with new commercial vehicles to be hybrids or EV powered by 2024.
The car giant had already unveiled a major step-up of investment into its EV manufacturing facilities, with US$22bn to be spent globally by 2025 or almost double its previous commitment.
Today, Ford said that it would spend US$1bn (GBP720m) updating its factory in Cologne, with the aim of producing a mass-market electric vehicle by 2023.
“Our announcement today to transform our Cologne facility, the home of our operations in Germany for 90 years, is one of the most significant Ford has made in over a generation,” said Stuart Rowley, president of Ford in Europe.
“It underlines our commitment to Europe and a modern future with electric vehicles at the heart of our strategy for growth.”
Rowley added that sales momentum seen in 2020 by Ford’s European arm had continued into the current year.
“We expect to continue our strong momentum this year in Europe and remain on track to deliver our goal of a six percent EBIT margin as part of Ford’s plan to turnaround our global automotive operation,” he said.
Carmakers around the world are now starting to unveil how they will manage the switch to electric power.
On Monday, Jaguar Land Rover has unveiled its plans for electric and hydrogen fuel cell cars over the next few years.
JLR, which is owned by India’s Tata Motors, will roll out its first all-electric Land Rover in 2024 and first hydrogen fuel cell prototypes within the next 12 months.
The company also committed to ensuring all three of its British plants keep running as part of this new electric drive, with the Castle Bromwich plant in Birmingham eventually switching focus to “non-production” activities.
Boris Johnson, the UK prime minster, has said he intends to ban new petrol and diesel cars from sale in the UK from 2030.