An investment of up to 230 million pounds ($316 million) would be made for the manufacturing of components for its electric cars at its factory in Halewood in northern England will be made by the United States based auto giant Ford, the company announced on Monday.
According to the plans of the company, around 250,000 power units per year will be made by the factory starting mid-2024 which would make the unit the first in-house location in Europe that would be making electric vehicle parts for Ford. The company has set a target of having only electric cars in its product line-up for Europe by 2030.
As auto companies and brands ramp up their plans for making electric vehicles prior to bans being imposed on conventional combustion engines and countries compete for jobs with each other, the UK government is participating in the investment through its Automotive Transformation Fund. Historically, around 10 per cent of the total investment value is tended to be provided to auto companies by the British government.
"This is an important step, marking Ford’s first in-house investment in all-electric vehicle component manufacturing in Europe," said Ford's Europe President Stuart Rowley.
There is also a transmission facility of the American car maker in Cologne, Germany.
Ford said that it had chosen Halewood for the project due to "its excellent record on quality, competitiveness and the strong skills base and commitment of the employees". There are currently about 500 employees at the factory.
Investment plans for a new battery plant in the UK were announced by Japanese auto major Nissan in July, while plans for production of electric vans less than a week later at its Vauxhall Ellesmere Port factory were announced by Stellantis recently.
There were many in the UK automotive industry who were concerned and apprehensive of the potential trade barriers cropping up after Britain's 2016 Brexit vote, but zero-tariff access for the sector was ensured in the December 2020 exit deal between London and Brussels, subject to a minimum level of parts sourced from the region.
"In this highly competitive, global race to secure electric vehicle manufacturing, our priority is to ensure the UK reaps the benefits," said business minister Kwasi Kwarteng.
(Source:www.indiatimes.com)
According to the plans of the company, around 250,000 power units per year will be made by the factory starting mid-2024 which would make the unit the first in-house location in Europe that would be making electric vehicle parts for Ford. The company has set a target of having only electric cars in its product line-up for Europe by 2030.
As auto companies and brands ramp up their plans for making electric vehicles prior to bans being imposed on conventional combustion engines and countries compete for jobs with each other, the UK government is participating in the investment through its Automotive Transformation Fund. Historically, around 10 per cent of the total investment value is tended to be provided to auto companies by the British government.
"This is an important step, marking Ford’s first in-house investment in all-electric vehicle component manufacturing in Europe," said Ford's Europe President Stuart Rowley.
There is also a transmission facility of the American car maker in Cologne, Germany.
Ford said that it had chosen Halewood for the project due to "its excellent record on quality, competitiveness and the strong skills base and commitment of the employees". There are currently about 500 employees at the factory.
Investment plans for a new battery plant in the UK were announced by Japanese auto major Nissan in July, while plans for production of electric vans less than a week later at its Vauxhall Ellesmere Port factory were announced by Stellantis recently.
There were many in the UK automotive industry who were concerned and apprehensive of the potential trade barriers cropping up after Britain's 2016 Brexit vote, but zero-tariff access for the sector was ensured in the December 2020 exit deal between London and Brussels, subject to a minimum level of parts sourced from the region.
"In this highly competitive, global race to secure electric vehicle manufacturing, our priority is to ensure the UK reaps the benefits," said business minister Kwasi Kwarteng.
(Source:www.indiatimes.com)
