- Ford Motor Company F plans to invest further £125 million in its Halewood Plant on Merseyside, U.K. It will also pour another £24 million in the supporting E:PRiME product development centre.
- Thus the total investment in enabling Halewood's transformation to an EV component plant has become £380 million.
- Halewood's new power unit capacity, raised from 250,000 to 420,000 a year, representing an increase of almost 70%, also means that 70% of the 600,000 EVs, which Ford will sell in Europe a year by 2026.
- The power unit, comprising an edrive motor and gearbox, replaces the engine and transmission of a conventional engine vehicle.
- "Our vision in Europe is to build a thriving business, by extending leadership in commercial vehicles and through the electrification of our car range," said Kieran Cahill, Ford's European Industrial Operations vice-president.
- Tim Slatter, chairman of Ford UK, said, "This is an all-important next step for Ford towards having nine EVs on sale within two years."
- Also Read: Ford Recalls 518,993 Vehicles In US Over Potential Cracked Fuel Injector
- Price Action: F shares are trading higher by 0.72% at $14.00 in premarket on the last check Thursday.
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