Ford Invests £150 Million to Boost EV Parts Output From UK Plant
(Bloomberg) -- Ford Motor Co. will spend about £150 million ($181 million) on expanding production of electric-vehicle components in England, a rare win for the UK’s struggling auto sector.
The investment will increase capacity at Ford’s Halewood transmission plant by 70% to 420,000 electric vehicle power units a year, the automaker said Thursday. Each unit is comprised of an electric motor and gearbox that replaces the engine and transmission of a conventional combustion vehicle.
Ford first announced over a year ago that it would convert the transmission-making facility near Liverpool to safeguard jobs as it aims to sell 600,000 EVs a year in Europe by 2026. Halewood is expected to supply power units for 70% of those vehicles.
The moves provide a much-needed boost to an industry beset by years of Brexit uncertainty, pandemic disruptions and shortages of components. Britishvolt Ltd., the company thought to be the country’s best hope for a homegrown EV battery maker, is struggling to stay afloat, and BMW AG recently announced it will move production of electric Mini hatchbacks to China.
Read more: The UK Car Industry’s Prospects Are Going From Bad to Worse
Ford’s fresh spending at Halewood adds to the £230 million the company pledged to the site last year. The manufacturer has a target to sell only fully electric cars in Europe by the end of this decade.
“We’re very committed to the UK,” said Kieran Cahill, vice president of Ford’s European industrial operations. “We will continue to look for growth opportunities if Halewood stays competitive.”
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More utilities news
![BloomburgMedia_SH029YT1UM0W00_22-07-2024_06-24-28_638572032000000000.jpg](/media/kixlhdmg/bloomburgmedia_sh029yt1um0w00_22-07-2024_06-24-28_638572032000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133661030689370000&format=webp)
China Greenlights Massive Offshore Wind Project for Shanghai
![BloomburgMedia_SGTHNUT0AFB400_19-07-2024_11-00-09_638569440000000000.jpg](/media/ykwdlzf1/bloomburgmedia_sgthnut0afb400_19-07-2024_11-00-09_638569440000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133658604093100000&format=webp)
Germany Accused of Hoarding Gas Meant for Czech Republic
![BloomburgMedia_SGHC0KT0AFB400_20-07-2024_12-00-07_638570304000000000.jpg](/media/o0jfkgex/bloomburgmedia_sghc0kt0afb400_20-07-2024_12-00-07_638570304000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133659504077430000&format=webp)
Sabesp Privatized in Year’s Biggest Latin America Stock Deal
![BloomburgMedia_SGRX9MDWLU6800_18-07-2024_13-22-56_638568576000000000.jpg](/media/vz3f0u2i/bloomburgmedia_sgrx9mdwlu6800_18-07-2024_13-22-56_638568576000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133657825763030000&format=webp)
Wildfires Erupt in Canada Crude Patch in Threat to Oil Sands
![BloomburgMedia_SGP6PGDWX2PS00_17-07-2024_12-00-07_638567712000000000.jpg](/media/vv1os5oy/bloomburgmedia_sgp6pgdwx2ps00_17-07-2024_12-00-07_638567712000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133656912072430000&format=webp)
SK Group to Merge Energy Units to Help Ailing Battery Business
![BloomburgMedia_SGPCY7DWRGG000_16-07-2024_12-00-07_638566848000000000.jpg](/media/e4spnknq/bloomburgmedia_sgpcy7dwrgg000_16-07-2024_12-00-07_638566848000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133656048073530000&format=webp)
UK Water Watchdog Now Probing All Utilities on Sewage Spills
![MAR 9600](/media/qfxn3mb3/mar_9600.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133655881555500000&format=webp)
Enersol signs agreement to acquire a majority stake in NTS Amega
![BloomburgMedia_SGNCH4DWRGG000_15-07-2024_06-13-24_638565984000000000.jpg](/media/nska0lrh/bloomburgmedia_sgnch4dwrgg000_15-07-2024_06-13-24_638565984000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133654976040970000&format=webp)
The World’s Power Grids Are Failing as the Planet Warms
![Audif1 Bp Showcar.Jpg.Img.1024.Medium](/media/qqhdotsq/audif1-bp-showcar-jpg-img-1024-medium.png?anchor=center&mode=crop&width=240&height=135&rnd=133655088561830000&format=webp)
Audi and BP partner for Formula 1 entry in 2026
![BloomburgMedia_SGHXQKDWLU6800_15-07-2024_06-23-53_638565984000000000.png](/media/w3ppn4mg/bloomburgmedia_sghxqkdwlu6800_15-07-2024_06-23-53_638565984000000000.png?anchor=center&mode=crop&width=240&height=135&rnd=133654982331000000&format=webp)
European Gas Prices Rise After Global Supply Risks Resurface
![CSIS Thumbnail](/media/o0acqjyg/csis_thumbnail.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133566075809700000&format=webp)
CSIS: long-term LNG demand to reshape global export capacity growth
![Dr Carole Nakhle Thumbnail](/media/gqrpjths/dr-carole-nakhle_thumbnail.png?anchor=center&mode=crop&width=540&height=300&rnd=133542056370600000&format=webp)
More women in energy vital to the industry’s success
![Vandana Hari Thumbnail](/media/gz3dyktl/vandana-hari-thumbnail.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133511540022930000&format=webp)
India’s energy sector presents lucrative opportunities for global companies
![OIL INDIA Thumbnail (1)](/media/oddlww2x/oil-india-thumbnail-1.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133506537128730000&format=webp)
Oil India charts the course to ambitious energy growth
![DNV Thumbnail](/media/chkphnjn/dnv-thumbnail.png?anchor=center&mode=crop&width=540&height=300&rnd=133491856590700000&format=webp)
Maritime sector is stepping up to the challenges of decarbonisation
Partner content
![Navigating the trading seas: exploring the significance of benchmarks-1859882229](/media/qlacaiww/navigating-the-trading-seas-exploring-the-significance-of-benchmarks-1859882229.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133613577584600000&format=webp)
Navigating the trading seas: exploring the significance of benchmarks
![New Lng Ship Web 17829](/media/vjrjyypa/new-lng-ship-web-17829.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133179936218300000&format=webp)
Back to the Future(s): the best commodities benchmarks are still physically settled
![Dr Klaus](/media/4eyh2dr0/dr-klaus.jpg?center=0.3953747239980292,0.50683017007953435&mode=crop&width=540&height=300&rnd=133517897092430000&format=webp)
Ebara Elliott Energy offers a range of products for a sustainable energy economy
![ESSAR](/media/5uafghtj/essar.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133524466961070000&format=webp)
Essar outlines how its CBM contribution is bolstering for India’s energy landscape
![HNC 7611 V2](/media/0dqbya15/hnc_7611_v2.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133517899616530000&format=webp)