Ford to invest $316m to make EV parts in UK

LONDON. Ford will invest as much as $316 million (£230 million) to start making electric-vehicle components at an existing plant near Liverpool after the UK government pledged financial support.

The Halewood facility will be retooled to start building electric power units from 2024 to gradually replace manufacturing of combustion-engine transmissions and safeguard jobs at the site, Ford said Monday. Earlier this year, the US carmaker said it will sell only fully electric cars in Europe by 2030.

“This is a very important announcement for Halewood as it will secure the future of the facility along with introducing new technology for Ford vehicles in Europe,” Ford of Europe President Stuart Rowley said. The plant currently has about 500 workers.