Cologne, Mar. 14, (dpa/GNA) – US carmaker Ford is planning to speed up the electrification of its production, including with another billion dollars in investment in its site in the western German city of Cologne.
On top of a previously announced investment of $1 billion in its Cologne plant, Ford now plans to spend a total of $2 billion dollars to launch two e-car models and produce 1.2 million of these vehicles within six years.
The first model is to be sold from 2023, the second from 2024.
The basic parts for making both models – the so-called modular toolkit – will be supplied by Volkswagen.
Ford Europe boss Stuart Rowley said the investment would secure the site for the future.
Ford also announced plans to bring another Romanian-built electric passenger car and four electric commercial vehicles to the European market by 2024, in addition to the two Cologne models.
When it comes to electric vehicles, Ford is considered a late starter although its investments are now picking up speed.
GNA