Ford Motor Co, in a bid to achieve the year-end 2022 target of electric cars sales to comprise major portion of its overall sales, came up with intention of launching eight electric vehicles in Europe this year.
The U.S. automaker is focusing on electric vehicles in the midst of environmental standards in the European Union are becoming more and more stricter forcing car manufacturers around the world to promptly eliminate the emission of carbon dioxide in their vehicles to comply with those standards.
Ford’s current launches, announced last week, include electric variants of Mondeo sedan and SUVs Puma and Kaga. Launch of nine other electric vehicles in Europe by 2024 which also include a next-year launch of a new electric sports utility vehicle that is inspired by Mustang are also the intentions of the automaker.
At the Frankfurt Motor Show in Germany last week, models were unveiled by the carmaker which also shared its collaboration plans with Europe’s six major energy suppliers for installation services of charging wall boxes at homes.
The automakers around the world have been going through phase of stagnating vehicles demands and rising production costs, and same are the cases with Ford, while it has also been investing billions of dollars in hybrid, autonomous and electric vehicles to aiming boosting vehicles sales.
For years, Ford’s European business is under pressure for not making profits and that stress increased after rival General Motors came increasing profits by selling its European brands like Vauxhall and Opel to Peugeot SA of France, with Ford to go through restructuring its operations in Europe.
In July, Ford joined hands with Volkswagen to jointly develop autonomous and electric cars, an effort to lessen the costs to develop and manufacture those vehicles, with expectations of building more than 600,000 electric vehicles over six years by sourcing components and the vehicle supporting architecture from VW that will help both to reduce costs.