Ford Otosan recently bought Ford's factory in Romania. With an expected investment of 490 million euros, the factory will be a crucial part of Ford's plans for electric cars in Europe in the future. Millions of electric vehicles will be produced at the Craiova plant in Romania in the coming years. Ford's electric cars in Europe will be made primarily at this plant, which is good at making vans and can do so.
Ford maximizes the value of its strategic alliances by spreading its bets across multiple projects and industries and gaining access to new areas of expertise. As a result, it will lead to a more excellent supply of electric vehicles in Europe. In the words of Ford of Europe's CEO, Stuart Rowley,
Ford Otosan plans to invest 490 million euros over the next three years to expand production.
Ford's best-selling passenger car in Europe, the Ford Puma, is already manufactured at this plant. The next-generation Transit Courier and Tourneo Courier vans will be made there in the not-too-distant future. The famous Ford Puma will keep rolling off the assembly line in 2024 and will be joined by an all-electric variant the following year.
Ford Otosan has increased its production capacity and expertise by purchasing the Craiova plant. Ford Otosan will bring its expertise in manufacturing vans and, not least, electrification to the factory, where skilled workers already produce some of Ford's best-selling models.
Ford has owned the Craiova plant for the past 14 years, during which time it has invested $2 billion in the facility. Ford's Valencia plant in Spain was named the company's top choice for making electric vehicles just a few weeks ago.
Ford is also spending $2 billion to change its factory in Cologne, Germany, so it can start making electric cars there in 2023. Ford predicts it will sell 600,000 electric vehicles annually in Europe by 2026. By 2026, the number of cars made worldwide is expected to be more than two million.
Due to the recent agreement between Ford of Europe and Ford Otosan, Ford Otosan is now the largest manufacturer of vans in Europe. After the Craiova plant opens, Ford Otosan can make more than 900,000 vehicles annually.
Ford Europe's general manager says, "The European success of Ford Puma, Ford Eco Sport, and Ford's 1.0 liter EcoBoost engine proves the factory's versatility and fantastic competitiveness." Rowley adds, "This will help Ford reach its goal of selling only electric cars in Europe by 2035 and keep its business running well."