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Ford Drops Fiesta and Focuses on EV

Ford Drops Fiesta and Focuses on EV

Say goodbye to the Ford Fiesta.

 

Ford announced this week that European production for the Ford Fiesta sedan will come to an end in 2023. The vehicle, first produced in 1976, has been replaced with a focus on electric vehicles. 

 

Ford’s plans to end European production of the Fiesta are a step in the company’s major journey to bringing electric vehicles to all customers. Quartz reported that “Ford and others are dumping vehicles in favor of high-priced luxury models and pouring that cash into innovation.”

 

According to Quartz, “Ford now expects about half its sales to be all-electric by 2030.” And “The company already has seven EVs in the works for Europe, and is converting a plant in Cologne, Germany, to produce 200,000 EVs a year in 2023 before producing batteries in 2024.”

 

Previously, Ford announced its plan to invest $11.4 billion dollars with SK Innovation into Tennessee and Kentucky plants creating 11,000 new jobs. According to Ford, “production of new electric vehicles and advanced lithium-ion batteries will begin in 2025.” 

Streetwise IR business news on Ford cards (image of red Ford Fiesta).
Photo courtesy: David Villarreal Fernández
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