Investment in the new electric passenger vehicles to be built in Cologne is expected to be $2 billion, Ford said. The investment includes a new battery assembly facility scheduled to start operations in 2024.
The Puma electric crossover will arrive in 2024 and will be built at Ford’s factory in Craiova, Romania. Ford will also build the new Transit Courier and Tourneo Courier vans in Craiova from 2023, with all-electric versions coming in 2024. The vans are currently produced in Turkey.
With its expanded lineup, Ford expects its annual sales of EVs in Europe to exceed 600,000 units in 2026. The automaker also affirmed its intention to deliver a 6 percent EBIT margin in Europe in 2023.
“Our march toward an all-electric future is an absolute necessity for Ford to meet the mobility needs of customers across a transforming Europe,” Ford of Europe Chairman Stuart Rowley said in a statement.
The Ford Transit light commercial vehicle range’s four new electric models will be:
- A Transit Custom 1-ton van available as an EV in 2023
- A Tourneo Custom multi-purpose compact vehicle available as an EV in 2023
- A small Transit Courier van EV in 2024. This vehicle has already been announced for Craiova in Romania
- A Tourneo Courier multi-purpose vehicle EV in 2024
Ford also said on Monday that it had signed an agreement with SK On and Koc Holding to jointly build a battery production facility in Turkey.
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