U.S. auto giant Ford is spending more than $ 315 million to start manufacturing electric car parts in Europe as part of its transition from traditional internal combustion engines to zero-emission electric vehicles.
The company announced Monday plans to convert its Halewood transmission plant in northern England into a facility to build power supply units for passenger and commercial electric vehicles sold in Europe.
Ford said the Halewood plant would begin producing electric car parts by mid-2024 with a planned production capacity of around 250,000 units per year. The automaker said the investment includes support from the UK government through its Auto Transformation Fund.
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Ford pledged in February that its car lineup in Europe would be fully electric by 2030, with all of its models available as either electric or hybrid models by 2026.
“This is an important milestone, marking Ford’s first internal investment in the manufacture of all-electric vehicle components in Europe,” said Stuart Rowley, president of Ford of Europe, in a statement.
“This further strengthens our ability to supply 100% of Ford passenger vehicles in Europe fully electric and two-thirds of our sales of fully electric or plug-in hybrid utility vehicles by 2030,” Rowley said.
The move comes as several major automakers are turning to electric vehicles amid growing pressure from governments and regulators to reduce harmful greenhouse gas emissions in order to curb climate change.
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