{"id":107272,"date":"2021-02-17T10:35:44","date_gmt":"2021-02-17T10:35:44","guid":{"rendered":"https:\/\/fin2me.com\/?p=107272"},"modified":"2021-02-17T10:35:44","modified_gmt":"2021-02-17T10:35:44","slug":"ford-to-switch-to-all-electric-car-range-in-europe-by-2030","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/ford-to-switch-to-all-electric-car-range-in-europe-by-2030\/","title":{"rendered":"Ford to switch to all-electric car range in Europe by 2030"},"content":{"rendered":"
FILE PHOTO: The Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS\/Wolfgang Rattay\/File Photo<\/figcaption>

LONDON (Reuters) – Ford Motor Co on Wednesday said its car lineup in Europe will be all-electric by 2030 as the U.S. automaker races to get ahead of CO2 emissions targets and looming bans in some countries on fossil fuel vehicles.<\/p>\n

The carmaker said it will invest $1 billion to convert its vehicle assembly plant in Cologne, Germany, to become the U.S. automaker\u2019s first electric vehicle facility in Europe.<\/p>\n

Ford said its first European-built, all-electric passenger vehicle will be produced at the facility from 2023 and is considering building a second model there.<\/p>\n

The No.2 U.S. automaker said that by 2026 it will have electric versions of all its passenger cars on sale in Europe and that by 2030 two=thirds of its commercial vehicle sales in Europe will be fully electric or plug-in hybrids.<\/p>\n

Ford currently dominates the U.S. and European markets for gasoline-powered commercial vehicles with shares of 40% and almost 15%, respectively.<\/p>\n

The carmaker said its commercial vehicle business is \u201ckey to future growth and profitability\u201d and will rely on new products, service and on Ford\u2019s strategic alliance with Volkswagen AG.<\/p>\n

Ford said this month it was \u201cdoubling down\u201d on connected electric vehicles and said it will invest $22 billion in electrification through 2025, nearly twice what it had previously committed to EVs.<\/p>\n

This week Jaguar Land Rover, owned by India\u2019s Tata Motors, said its luxury Jaguar brand would be entirely electric by 2025 and the carmaker will launch e-models of its entire lineup by 2030.<\/p>\n

Last month, Ford\u2019s Detroit rival General Motors Co said it aims to an entirely zero-emission lineup by 2035.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: The Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. 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