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Ford is releasing seven new electric vehicle models in Europe by 2024, and for this project, it is collaborating with Volkswagen for its technology. The automaker revealed its EV plans through an announcement on Monday, March 14.
Ford Motor is planning to double the number of electric vehicles that it will be building in partnership with the German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony. Originally, the companies' deal was to produce 600,000 single crossovers in six years, but it was modified to add a second model with the same target number of units by 2026, as per Fox Business.
The Dearborn, Michigan-based automaker said that the new models would include the electric Ford Puma SUV, four minivans, Sport and Medium-size Crossover. The crossover units will be made using Volkswagen's modular electric-drive or MEB platform.
Ford stated that its Medium-size Crossover is set to begin production in 2023 at the company's Cologne, Germany plant. The Sport Crossover will be produced the following year, but at this point, there are no plans to export them yet to the United States.
"I am delighted to see the pace of change in Europe – challenging our entire industry to build better, cleaner, and more digital vehicles. Ford is all-in and moving fast to meet the demand in Europe and around the globe," Ford president and chief executive officer, Jim Farley, said in a press release. "This is why we have created Ford Model e – allowing us to move at the speed of a start-up to build electric vehicles that delight and offer connected services unique to Ford and that are built with Ford-grade engineering and safety."
Finally, Reuters reported that Ford Motor's target is to double the volume of vehicles that it will be producing based on Volkswagen's MEB. This means the number will total to 1.2 million units over a 6-year period. For this project, the company is also investing $2 billion for its Cologne facility and the new battery assembly plant that will start operations in two years.
Ford Motor also signed a non-binding memorandum of understanding (MOU) with South Korea's SK On Co. and Turkey's Koc Holding for a JV to make batteries that will also be supplied for the EVs it is set to produce.
