Ford drives toward electric future

US car giant Ford has vowed to switch its entire passenger car range to electric in Europe and the UK by 2030. 

In what amounts to the most ambitious regional target of any of the major car makers, Ford says that by 2026, every car will be electric or hybrid, before its range goes fully electric by the end of the decade, the FT reports. 

• Globally, Ford is to invest $22 billion in electric car technology by 2025.

• Its latest announcement follows strategic plans by German automaker VW to realign its whole enterprise towards electric vehicles, in particular to make electric cars that are more affordable. Many also expect the sector to be shaken up by the arrival of an “Apple Car” – latest reports suggest a number of potential manufacturing partners for the iPhone maker to produce the Apple Car.
• Volvo, while a much smaller car maker than Ford, has also said production will be all-electric by the end of the decade.

Top takeaway

Europe is now the world’s leading market for electric vehicles, ahead of China, with sales expected to increase further as emissions rules become stricter. Ten percent of cars sold in Europe and the US in 2020 were electric or hybrid.

Sourced from Financial Times, Automotive News Europe