Ford Motor Co will invest an extra 149 million pounds ($180 million) to raise electric vehicle (EV) power unit capacity at its engine factory in northern England by 70%, as the U.S. carmaker accelerates its push to go electric. The Detroit-based carmaker said on Thursday the additional funds will boost electric drive unit production capacity at the Halewood plant to 420,000 units annually from 250,000 units starting in 2024. The move would bring Ford's total investment to transition the combustion engine factory to EV parts production to 380 million pounds.
Author: Nick Carey
Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features. In the last few months, several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings - an achievement that requires loading vehicles with active and passive safety features that go well beyond legal requirements. "All Chinese EV makers want to achieve Euro NCAP five-star ratings in order to be more competitive in the European market," said Brian Gu, president of Chinese EV maker Xpeng.