Ford receives £600m government loan to ramp up UK EV production
Ford is set to ramp up production of electric vehicles in the UK following a £600m government loan.
Through the UK Export Finance funding, the marque will increase its electric vehicle (EV) range from the current two models to nine within the next four years.
The loan will boost a £125m investment into Ford’s EV powertrain facility in Merseyside, increasing volume from 250,000 units to 420,000 per year and securing 500 jobs.
It will also protect the car maker’s ability to deliver engineering services at its plant in Dunton, Essex, enabling a continued focus on research and development.
“This is an all-important next step for Ford towards having nine EVs on sale within four years,” said Ford UK’s chairman Tim Slatter.
“Our UK workforce is playing a major role in Ford’s all-electric future, demonstrated by Halewood’s pivot to a new zero-emission powertrain, and Dunton E:PriME’s innovation in finalising the production processes.”
The manufacturer’s increased focus in the UK EV industry comes as BMW moved the production of its electric Mini from its historic home of Cowley to China.