Ford announced Wednesday it is transforming its European businesses, committing to having all-electric vehicles by 2030.
According to Ford, in the next five years, they plan to have all passenger vehicles in Europe to be zero-emissions capable, all-electric or plug-in hybrid, and then be completely all-electric by 2030.
As part of the plan, Ford is investing $1 billion in a new electric vehicle manufacturing center in Cologne, Germany. They plan to have the company's first European-built,all-electric passenger vehicles to roll off the line by 2023. There's also the potential to build a second vehicle at that plant, Ford said.
“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. It underlines our commitment to Europe and a modern future with electric vehicles at the heart of our strategy for growth,” Ford Europe President Stuart Rowley said in a release.
The company's strategic alliance with Volkswagen and the Ford Otosan joint venture helped with vehicle development and sourcing for Europe, the company said.
Ford also recently partnered with Google for Team Upshift, which will help data-driven opportunities, according to Ford.
"The decision to make the production and development site in Cologne the e-mobility center for Ford in Europe is an important signal to the entire workforce," said Martin Hennig, chairman of the General Works Council of Ford-Werke GmbH. "It offers a long-term perspective for our employees and at the same time encourages them to help shape this electric future."