"We successfully restructured Ford of Europe and returned to profitability in the fourth quarter of 2020," Ford Europe President Stuart Rowley said in a statement. "Now we are charging into an all-electric future in Europe.”
By 2030, Ford’s passenger-vehicle range will be completely all-electric, except for its smaller commercial-vehicle business, which will continue to sell some gasoline-powered vans and trucks.
These plans came in the announcement from Ford that it planned to invest announced Wednesday that it plans to invest $1 billion into a German plant that will start making an all-electric model in two years. By mid-2026, all passenger cars Ford sells in Europe will be plug-in hybrids or fully electric.
Jeff Marks, senior portfolio analyst with Action Alerts PLUS, weighed in on Ford's moves.
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