FORD TO INVEST $316M TO MAKE ELECTRIC VEHICLE PARTS AT UK PLANT

Mon 18 October 2021:

Ford, one of the leading American carmaker announced on Monday that it will invest $316 million (£230 million) in its UK manufacturing plant to produce its first electric vehicle components in Europe.

“Ford’s vehicle transmission facility at Halewood on Merseyside [in the north UK] to be transformed to build electric power units for future Ford all-electric passenger and commercial vehicles in Europe,” it said in a statement.

The production is planned to begin in mid-2024, as part of the company’s pledge to have all of its passenger vehicles be all-electric and two-thirds of its commercial vehicle sales be all-electric or plug-in hybrid by 2030.

“This is a very important announcement for Halewood, as it will secure the future of the facility along with introducing new technology for Ford vehicles in Europe,” Ford of Europe president Stuart Rowley said in an interview. The plant has about 500 workers, and employment will remain around those levels, Rowley said.

The annual production capacity is expected to be around 250,000 units.

Ford is one of the UK’s largest exporters, selling engines and transmissions to more than 15 countries from its facilities, with annual sales of $3.4 billion (£2.5 billion).

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