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HomeNewsFord postpones Spanish investment citing 'revised outlook for Europe'

Ford postpones Spanish investment citing ‘revised outlook for Europe’

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News Tech: MADRID, Aug 24 (Reuters) – Ford (F.N) said on Wednesday it is delaying its production investments in Spain, citing a “revised outlook for Europe” but said it remained committed to its plant in Valencia, where it announced plans in June to produce electric vehicles (EV).

RegisterReporting by Joan Faus and Jan C. Schwartz

The U.S. carmaker said in a statement it will not now ask for a share of Spain’s EU pandemic relief funds to invest in the roll-out of EVs by June 2025, but said it will work with the authorities to identify other potential public funding as it moves to an all-electric fleet of passenger vehicles by 2030.

Source: Reuters Trust Principles.

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