Mubasher: Ford Motor Co will invest $1 billion in converting its vehicle production facility in Cologne, Germany, to become its first electric vehicle facility in Europe, CNBC reported.
This step is part of the US automaker's commitment to switch to an all-electric car lineup in Europe by 2030 and target for zero carbon emissions.
By the middle of 2026, Ford would produce zero carbon emission capable, all-electric, or plug-in hybrid passenger vehicle range in Europe.
Meanwhile, Ford would make a completely all-electric offering by 2030.
The President of Ford in Europe, Stuart Rowley, commented: “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."