Ford has announced an investment of 30 230 million (2 272.7 million). The facility is expected to produce about 250,000 units a year from 2024, making it the first European location to manufacture parts for Ford, which is committed to producing only electric vehicles in Europe by 2030.
The British government is known to contribute to Ford’s investment through the Automobile Transformation Fund. Boris Johnson’s government will provide 10% of the total investment to companies in the sector.
Car brands have stepped up their electrification plans before countries completely ban fuel engines. With these investments, countries also compete with each other so that brands can position themselves in their countries and create jobs that lead to greater economic stability.
“This is an important step and marks Ford’s first domestic investment in the production of all electric vehicle components in Europe,” acknowledged Ford chairman Stuart Rowley of Europe.
The Hollywood plant in the UK was selected for its “Outstanding Achievement of Quality, Competitiveness and Strong Capacity Base and Staff Dedication”. There are about 500 workers on this campus.
The investment comes after the Brexit referendum, in which many carmakers raised concerns about sanctions between the UK and other parts of Europe.
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