• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, May 23, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech Automobiles

Ford to double electric vehicle production in Europe

by Meghana Kandra
March 14, 2022
in Automobiles, Cars, Electric Vehicles, Manufacturing
Reading Time: 2 mins read
0
Ford doubles down on electric push in Europe
TwitterWhatsappLinkedin

Ford unveils plans for seven new electric models in Europe. Says the production of electric vehicles will be doubled. Also includes plans about a battery assembly site in Germany and a nickel cell manufacturing joint venture in Turkey. The plans are part of its aggressive push towards electric vehicles on the continent.

You might also like

House Passes Budget Bill Imposing Fees on Electric and Hybrid Vehicles to Boost Highway Trust Fund

Lexus LC F Revival Rumored with Twin-Turbo Plug-In Hybrid V8 Powertrain

Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

Ford doubles down on electric push in Europe
Image credits- Financial Times

“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. By 2024, Ford plans to introduce three new electric passenger vehicles in Europe. Another four new electric commercial vehicles as well. With this move, it plans to sell more than 600,000 EVs in Europe by 2026.

The automaker states that the new plan with help it reaches global sales, by selling more than 2 million EVs a year. It would enable the company in achieving an adjusted operating profit margin of 10% by 2026. The profit margin will be part of a broader $50 billion investment in electrification kick-start. As part of its push, Ford deepened its existing partnership with Volkswagen under which the U.S. carmaker will produce a second electric vehicle for the European market based on its German rival’s platform. Ford will double its planned volume of vehicles to be produced based on Volkswagen’s modular electric-drive platform, known as MEB, to 1.2 million units over a six-year time frame. This will include investments of $2 billion at Ford’s Cologne site in Germany as well as a new battery assembly facility scheduled to start operations in 2024.

Joint venture with SK and Koc Holding

South Korean battery maker SK, Ford, and Koc Holding signed a memorandum of understanding (MOU) to form a joint venture. This venture will produce EV battery cells in Turkey. SK said in a statement that the plant is targeted to start by 2025 and aims to have an annual production capacity of 30-45 gigawatt-hours (GWh).

SK Innovation wholly owned battery unit, which counts Ford Motor, Hyundai Motor, and Volkswagen AG among its customers, announced last year a plan to invest 10.2 trillion won ($8.22 billion) with Ford to build three battery plants in the United States. The companies intend to create nearly 11,000 jobs by opening assembly and battery plants in Stanton, Tennessee, and two additional battery factories in Glendale, Kentucky, as part of Ford’s previously announced plan to spend more than $30 billion through 2030 on electrification, Ford said. Plants on both sites will open in 2025.

Tags: electric passengerelectric vehicleElectrificationEuropeEV productionFord
Tweet54SendShare15
Previous Post

Tesla starts releasing notable improvements in Full Self Driving software

Next Post

Uber to charge customers new fuel fee for rides and delivery

Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

Recommended For You

House Passes Budget Bill Imposing Fees on Electric and Hybrid Vehicles to Boost Highway Trust Fund

by Samir Gautam
May 23, 2025
0
House Passes Budget Bill Imposing Fees on Electric and Hybrid Vehicles to Boost Highway Trust Fund

In a significant move that could reshape transportation funding, the U.S. House of Representatives passed a major tax and budget reconciliation bill on May 22, incorporating new annual...

Read more

Lexus LC F Revival Rumored with Twin-Turbo Plug-In Hybrid V8 Powertrain

by Samir Gautam
May 23, 2025
0
Lexus LC F Revival Rumored with Twin-Turbo Plug-In Hybrid V8 Powertrain

Lexus enthusiasts may have a reason to celebrate soon, as the luxury Japanese brand appears to be breathing new life into the elusive LC F program. Recent hints...

Read more

Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

by Samir Gautam
May 22, 2025
0
Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

A year after Dodge sent shockwaves through the muscle car world with the debut of its all-electric Charger coupe, the brand is doubling down on electric performance this...

Read more
Next Post
Uber

Uber to charge customers new fuel fee for rides and delivery

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?