Ford Motor Company (NYSE:F) plans to manufacture its new electric vehicle power units in the UK from 2024 after committing a new £150mln investment into its Halewood plant in Merseyside.
The investment is expected to result in the plant in north-west England supplying components for 70% of the US carmaker’s European EVs by 2026.
Raising total investments in the plant to £380mln for its transition to produce electric vehicle power units, partially funded by the government’s Automotive Transition Fund, Ford outlined that the factory will output 420,000 units each year.
These units will replace conventional engines in a range of Ford’s current vehicles, including the Puma, Transit Courier, E-Tourneo people carrier and others, as well as future products.
“Our vision in Europe is to build a thriving business, by extending leadership in commercial vehicles and through the electrification of our car range,” Ford said in a press release.
“Halewood is playing a critical part as our first in-house investment in EV component manufacturing in Europe,” it added, also highlighting the funding will help to safeguard 500 jobs.
Ford said prototype batteries for its new electric power units are currently being built at its Essex-based development headquarters.
It suggested it is looking to sell 600,000 EVs in Europe, as part of 2mln globally by 2026, in an attempt to meet a 2035 net-zero target on the continent.