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Ford to introduce 7 new EVs in Europe by 2024, invest $2B in EV plant

A Ford Mustang Mach E electric car is displayed. File Photo by Bill Greenblatt/UPI
A Ford Mustang Mach E electric car is displayed. File Photo by Bill Greenblatt/UPI | License Photo

March 14 (UPI) -- Ford announced Monday it will introduce seven new electric vehicles by 2024 and invest $2 billion in EV production center in Germany to ramp up its all-electric future in Europe.

The seven to be introduced by 2024 will include three passenger vehicles and four new commercial vehicles, according to Ford's statement Monday.

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Among the passenger vehicles will be a sports crossover, with a range of 311 miles on a single charge, produced at its electric vehicle production center in Cologne, and an electric version of the Ford Puma, a compact crossover, which will be produced in Craiova, Romania, in 2024.

The company did not release details about the third passenger vehicle.

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The four commercial electric vehicles include a new Transit Custom van and Tourneo Custom multi-purpose van and smaller, next generation Transit Courier and Tourneo vans.

Ford already introduced the all-electric Mach-E in 2021 and Mach-E this year in Europe, and will launch the E-Transit in Europe during the next quarter, according to the statement.

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The company also said in a statement that it plans to sell more than 600,000 electric vehicles in the region by 2026 and to invest $2 billion to make new electric vehicles at its Cologne plant, with production there increasing to 1.2 million vehicles over a six-year span.

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"These new Ford electric vehicles signal what is nothing less than the total transformation of our brands in Europe--a new generation of zero-emission vehicles, optimized for a connected world, offering our customers truly outstanding user experiences," Stuart Rowley, the chair of Ford of Europe, said in a statement.

Ford announced earlier this month that it was creating a separate electric vehicle and internal combustion business, named Ford Model E and Ford Blue, respectively, which join the newly created Ford Pro, which supports commercial and government customers.

Rowley added in a video announcement that the company is planning to accelerate its move to all-electric passenger vehicles in Europe by 2030 within Ford Model-E, and only zero-emission commercial vehicles within Ford-Pro by 2035.

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"Our march toward an all-electric future is an absolute necessity for Ford to meet the mobility needs of customers across a transforming Europe," Rowley added in a company statement.

"It's also about the pressing need for greater care of our planet, making a positive contribution to society and reducing emissions in line with the Paris Climate Agreement."

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Ford also announced that it signed a non-binding agreement with the battery company, SK On Co. Ltd., which is a subsidiary of the South Korean company SK Innovation, to create one of Europe's largest commercial vehicle battery production sites in Turkey.

Last year, Ford also signed an agreement with the South Korean battery maker to manufacture EV battery cells in the United States.

In January of this year, Ford announced it was nearly doubling production of the F-150, its first all-electric pickup truck, to 150,000 trucks per year to meet high demand. It also recently announced it was tripling production of Mustang Mach-E to reach 200,00 units per year by 2023.

Still, Ford and other rivals have struggled to catch up to Tesla in the electric vehicle space.

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