Ford Takes Bold Steps Toward All-Electric Future

Date Posted: 01 January 2024

Ford Takes Bold Steps Toward All-Electric Future in Europe; 7 New Connected EVs Support Plans to Sell 600K+ EVs Annually by 2026.

  • Ford to introduce three new electric passenger vehicles and four new electric commercial vehicles in Europe by 2024; plans to sell more than 600,000 electric vehicles in the region by 2026
  • 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
  • Planned production of electric vehicles in Cologne, Germany, now expected to be 1.2 million vehicles over six years, with a total product investment of $2 billion
  • Additionally, Ford today signed a non-binding MOU with SK On Co., Ltd. and Koç Holding to create one of Europe’s largest commercial vehicle battery production sites in Turkey
  • Boosts 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 will help Ford achieve zero emissions for all vehicle sales and carbon neutrality across its European footprint of facilities, logistics and suppliers by 2035

COLOGNE, Germany, March 14, 2022 – Ford today announced significant strides toward an all- electric future in Europe, which will see the company transformed and offering a new generation of seven, all-electric, fully-connected passenger vehicles and vans by 2024.

Today’s 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 electricvehiclesthatdelightandofferconnectedservicesuniquetoFordandthatarebuiltwith Ford- grade engineering and safety.”

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 intentiontodelivera6percentEBITmargininEuropein2023. The acceleration in Europe support’s Ford’s goal to sell more than 2 million EVs globally by 2026 and deliver company adjusted EBIT margin of 10 percent.

“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.”
Together, these efforts will support Ford’s global plans to significantly reduce carbon emissions. The company today announced it is targeting zero emissions for all vehicle sales in Europe and carbon neutrality across its European footprint of facilities, logistics and suppliers by 2035.

Seven new electric vehicles by 2024

Following the successful European introduction of the all-electric Mach-E in 2021 and Mach-E GT this year, plus the launch of the E-Transit in the next quarter, Ford today unveiled plans for seven all-electric vehicles to join the Ford family in Europe – three new passenger vehicles and four new commercial vehicles.

Starting in 2023, Ford will begin production of an all-new electric passenger vehicle, a medium-sized crossover, built in Cologne with asecond electric vehicle added to the Cologneproductionline-upin 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.

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.

“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.

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