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American carmaker Ford will invest $316 million (£230 million) on its UK production plant to make its first electric vehicle components in Europe, the company announced on Monday.
"Ford's vehicle transmission facility at Halewood on Merseyside [in the north UK] to be transformed to build electric power units for future Ford all-electric passenger and commercial vehicles in Europe," it said in a statement.
Under the company's commitment to have all of its passenger vehicles as all-electric and two-thirds of its commercial vehicle sales all-electric or plug-in hybrid by 2030, the production is expected to start in mid- 2024.
Production capacity is planned to be around 250,000 units a year.
Ford is one of the UK's largest exporters, selling engines and transmissions from its facilities to more than 15 countries, with overseas sales generating around $3.4 billion annually. -
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