US car giant Ford Motor Co. plans to introduce seven new electric models in Europe as part of broad plans to sell more than 600,000 electric vehicles in the region by 2026.
Three electric cars and three commercial vehicles will be added to its lineup by 2024 as part of its so-called Ford+ plan, with a global goal to lift EV sales and deliver a 10% EBIT margin by 2026, the company said in a statement on Monday.
In addition, Ford also signed an agreement with SK On Co., Ltd. and Koç Holding to create of Europe’s biggest commercial vehicle battery production sites in Turkey. EV production in Germany is expected to be 1.2 million cars over six years with an investment of $2bn.
“Our march toward an all-electric future is an absolute necessity for Ford to meet the mobility needs of customers across a transforming Europe,” said Stuart Rowley, chair, Ford of Europe.