Ford Motor Co. (NYSE: F) Injects $1 Billion in Germany as It Targets EU Market for EVs

February 26, 2021 12:45 PM EST

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Several countries across the world have set green-energy targets as the race toward electrifying the roads heats up. European countries have set what are probably the most ambitious targets, consequently pushing automakers towards adopting green energy much faster. American car maker Ford Motor Co. (NYSE: F), for instance, has unveiled plans to spend $1 billion on modernizing a factory in Cologne, Germany, as it works towards its target of selling only electric passenger cars on the continent by 2030.

According to the automaker, the plant will be overhauled and used to produce Ford’s first European-built, mass-volume electric passenger car starting in 2023. All the passenger cars Ford sells in Europe by mid-2026 will be either all-electric or plug-in hybrids with both an internal&

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