The switch to electric vehicles is happening fast as consumers increasingly accept the industry shift and governments across the globe unveil plans for regulating diesel and petrol vehicles. Ford is the latest to announce its entire passenger vehicle range in Europe would be “zero-emissions capable, all-electric or plug-in hybrid” by 2024, with a “completely all-electric”
offering by 2030. In fact, Ford will invest $1B on an EV production facility in Cologne, Germany, retooling an existing assembly plant to produce its next-generation lineup.
“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,” said Stuart Rowley, President of Ford Europe.
“It underlines our commitment to Europe and a modern future with electric vehicles at the heart of our strategy for growth.”
Ford currently rules the U.S. and European market for petrol-powered commercial vehicles with a share of 40% and nearly 15%, respectively.
Clearly the race is on, between “old school” like Ford and the “new school”
epitomised by Tesla, but with many others in the chase.