Ford To Invest $316M On UK EV Plant

Benzinga2021-10-18

Ford Motor Co aims to invest up to £230 million ($316 million) to build electric car components at its Halewood factory in northern England, Reuters reports.

The Ford plant will produce ~250,000 power units a year from mid-2024, the first European in-house location to make electric vehicle parts for Ford, the report adds.

"This is an important step, marking Ford's first in-house investment in all-electric vehicle component manufacturing in Europe," Ford's Europe President Stuart Rowley said.

The government is contributing to the investment through its Automotive Transformation Fund.

Ford also has a transmission facility in Cologne, Germany. Halewood, which employs about 500 people.

Price Action: F shares closed higher by 1.23% at $15.70 on Friday.

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26629536
2021-10-18
26629536
Ok
- 26629536:
  [Happy]
- 26629536:
  [Cool]
- 26629536:
  [Cool][LOL]
- 26629536:
  [Lovely]
- 26629536:
  Yea
Likelike
2021-10-18
Likelike
$20 by New Year Day...i wish.. like like
IcySilver
2021-10-18
IcySilver
Time to diversify
73f94148
2021-10-18
73f94148
Ok

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