12/1/2022, 11:56 AM (Source: TeleTrader)
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Ford to add £125 million to EV investment in UK

Ford announced on Thursday its plans to invest another £125 million in electric vehicles (EV) at the Halewood plant in the United Kingdom, bringing its total investment to £380 million. In an attempt to boost zero-emission car sales by 2030, the factory is set to produce 420,000 EVs a year.

"Our vision in Europe is to build a thriving business, by extending leadership in commercial vehicles and through the electrification of our car range. Halewood is playing a critical part as our first in-house investment in EV component manufacturing in Europe," Kieran Cahill, vice president at the plant said.

The financial boost will create 500 new jobs. The factory in Halewood wants to supply power units to about 70% of the 600,000 electric vehicles it aims to sell in Europe by 2026.

Baha Breaking News (BBN) / KB