Ford will launch four new electric commercial vehicles (as well as three new electric passenger cars) in Europe by 2024. Planned production of electric vehicles in the German site of Cologne is now expected to reach 1.2 million vehicles over six years, with a total product investment of 2 billion dollars. Ford has recently created a new global business unit, namely 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 globeJim Farley, Ford president and CEO
Ford relies on electric vehicles: the goals for the coming years
With its extended range of electric passenger and commercial vehicle models, Ford expects its annual sales of electric vehicles in Europe to exceed 600,000 units in 2026, and also reaffirmed its intention to deliver a 6 percent EBIT margin in Europe in 2023. The acceleration in Europe supports Ford’s goal to sell more than 2 million electric vehicles globally by 2026 and deliver company adjusted EBIT margin of 10 percent.
The new commercial vehicle models
As for commercial vehicles, 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. The all-new Transit Courier and Tourneo Courier will be produced in Craiova from 2023, with all-electric versions coming in 2024. Ford Otosan will assume ownership of the Craiova plant and manufacturing business, subject to regulatory approval and consultation.
«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».
One of the largest EV battery facilities in Europe
To support Ford’s ambitious vehicle electrification plans, Ford, SK On Co., Ltd. and Koç Holding have signed a non-binding Memorandum of Understanding for a new, industry-leading joint venture business in Turkey. Subject to execution of a final agreement, the three partners plan to create one of the largest EV battery facilities in the European wider region.