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Ford to Upgrade UK Plant into an Automotive Component Base for an Investment of USD 316 Million
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2021-10-26
Ford announced to invest USD 316 million to revamp the Halewood plant into an automotive component plant which will be the first assembly plant directly involving electric vehicles (EVs). The EV component assembly plant, upon completion, will supply general and commercial EVs sold in Europe to help Ford progress towards electrification.
This February, Ford announced its new tactics for the European market in which Ford will only manufacture commercial EVs in Europe by 2024 and only sell EVs in Europe by 2030. To this end, Ford upgraded its Cologne assembly plant for USD 1 billion.
The Halewood plant by schedule will start manufacturing automotive components by mid 2024 and produce 250 thousand vehicles per year. The plant has all of its products exported and therefore Ford has a shot at becoming one of the largest exporters of engines and transmission gears in UK after the plan is implemented.
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