Ford is seeing a change in its plans to continue its investment in a manufacturing plant in Valencia, Spain, that the company revealed to the world earlier this year. It seems that this plan in Europe would see an unknown timeline for its progression for now, as the company decided to put it on hold for an indefinite time regarding its continuation.
Ford Delays EV Manufacturing Plant Investment in Spain
(Photo : Bill Pugliano/Getty Images)
DEARBORN, MI - APRIL 26: Ford F-150 Lightning pickup trucks are shown at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.
Reuters first reported that Ford is halting its manufacturing plant investments in Spain, with its primary goal to establish a new facility in Valencia for its future releases. The report further claimed that Ford cited a "revised outlook for Europe" that brings its plans regarding the new plant that still sees a future in the new territory.
Ford is not canceling the Spanish expansion for its electric vehicle plans in the future, and this is merely a temporary delay in pushing forth with its upcoming investment for its European plant. Nevertheless, Ford has already received a significant amount from Spain's EU pandemic relief program that aims to support businesses affected by the global health problem.
Read Also: Ford Removes 3,000 People from their Jobs as Part of Its Restructuring for 'Clarity and Speed'
Ford is Supposedly Expanding its EV Plants
According to Insider EV, the new plant in Valencia is supposedly pushing through with Ford's next-generation electric vehicles that will bring the company's concepts and projects to the world. The delay in its investment may not necessarily mean that Ford is pulling out from the EU and Spain, but it is only a setback for its plans already in motion.
Ford and its EV Manufacturing Plans
It was unprecedented that Ford's entry into the electric vehicle race would see a massive boost in its plans and prominence, especially with its initial solo take on the Mustang Mach-E in 2020. However, the reinforcement of its systems and new focus with the F-150 Lightning pickup truck gave it significant fame among the public as it is one of the most sought-after vehicles now.
With that, Ford gained traction and began turning the tides in its favor with the massive demands on its electric vehicle lineup available from the company. Ford previously announced its plans for its humongous output for EVs, with 600,000 being its target number for 2023 and aiming to deliver as much as 2 million for 2026.
The Dearborn, Michigan-based company is setting its sights on Spain for an expansion of its EV manufacturing facilities that will extend its deliveries to Europe, but that saw a significant hold from the company. Nevertheless, it remains a future venture for the company, not a failed or shut-down project for Ford.
Related Article: Ford F-150 Lightning Owners May Receive Cash By Sharing Power in North Carolina's Grid
This article is owned by TechTimes
Written by Isaiah Richard
