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Ford Motor Co, American multinational automobile company headquartered in Dearborn, Michigan, reportedly announced its plans to launch eight electric vehicles across Europe by the end of the year, an important step in its mission of achieving majority of its total sales through electric vehicles by end of 2022.
The U.S. automobile company has pushed into the field of electric vehicles when car producers across the world are rushing to reduce their carbon dioxide emissions in an effort to comply with European Union’s more strict environmental standards.
Electric variants of the company’s Puma and Kuga SUVs as well as the Mondeo sedan will be the new launches in Europe. The company also plans to unveil nine more electric vehicles in Europe by 2024, which also includes a new electric sports utility vehicle inspired by Mustang, set to be launched next year.
Ford’s European business has been suffering losses since years and the burden to restructure operations increased greatly after rival of the company, General Motors increased its profit by selling off its European Opel as well as Vauxhall brands to French automobile company Peugeot SA.
In a bid to reduce manufacturing and development costs, Ford partnered with Volkswagen earlier in July to develop self-driving and electric vehicles under a joint effort.
Volkswagen agreed to invest $3.1 billion into the Argo AI self-driving division of Ford, but further estimated that it could gain up to $20 billion in terms of revenue by sharing its architecture of MEB electric vehicle in Europe with Ford.
The tie-up with Volkswagen in Europe for electric vehicles production is just a part of Ford’s earlier disclosed $11.5 billion electric vehicles investment worldwide.
Ford will also create a new smartphone app that would let its operators and users find, navigate to and pay for charging of electric vehicles.
Source credit: https://in.reuters.com/article/us-ford-electric/ford-makes-big-electric-push-in-europe-with-new-launches-idINKCN1VV1CZ
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