Ford in Europe has announced its plant in Valencia, Spain as the preferred site to assemble vehicles based on a next-generation electric vehicle architecture. The plant is expected to produce breakthrough electric and connected vehicles targeting the European markets, beginning later this decade.
Ford's European strategy calls for an exciting line-up of EVs in the passenger car segment including an electric variant of Ford Puma, and extending its leadership in the commercial segment with electric 'Ford Pro' vehicles and connected services. By 2026, the brand plans to sell 600,000 EVs annually in the region.
To that effect, the company has also reiterated its commitment to Germany with a $2 billion investment in a state-of-the-art electric vehicle center in Cologne, where production is scheduled to start in late 2023.
"We are committed to building a vibrant, sustainable business in Europe as part of our Ford+ plan, and that requires focus and making tough choices," said Jim Farley, Ford president and CEO. "The European auto industry is extremely competitive, and to thrive and grow we can never settle for less than unbelievably great products, a delightful customer experience, ultra-lean operations and a talented and motivated team."
Ford claims that its next generation EV architecture is a critical step in the transformation of the brand in Europe to achieve an all-electric future and build a thriving business in the emerging EV market.
"We are accelerating our transformation in Europe, reimagining how we do business and building a future where amazing vehicles and relentless focus on customer experience goes hand-in-hand with protecting our planet," said Stuart Rowley, chair, Ford of Europe and chief transformation & quality officer, Ford Motor Company.
"Bringing our all-new electric vehicle architecture to Valencia will help us build a profitable business in Europe, secure high value employment and increase Ford's offering of premium electric, high performance, fully connected vehicles that meet the demand of our European customers", Rowley added.
Ford's plans for all-electric future in Europe supports the global goal of 2 million+ annual production of EVs by 2026 and 10 percent company adjusted EBIT margin by 2026.
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