Ford Motor Co. has announced that all its car launches in Europe will be electric by 2030.
The US automobile company is planning to reduce its carbon emissions by this move. They plan on starting their first plant to manufacture such vehicles by converting their plant in Cologne, Germany. They plan to spend $1 billion for the conversion of their plant in the next 30 months.
Stuart Rowley, head of the European operations at Ford, said during a news conference, “This reinforces our commitment to the European region.” The first electric model is to come by 2023.
By 2026 they are planning to launch electric models of all its passenger vehicles. As of now, Ford is the dominant vehicle in the US and European markets. They have 40% and 15% shares in both regions respectively.