ford, will reduce production of new electric vehicles explained. The company cited rapidly deteriorating market conditions for electric vehicles as the reason for this decision.

Ford started production of the Explorer Electric in June, which it introduced in March 2023. The Capri revival project, which was first shown in July, went into production in September. However, due to the rapid deterioration in market conditions for electric vehicles recently, the company closed its factory in Cologne, Germany. decision to stop production took it. Employees will work for a week and take a week off until the Christmas holidays.

The production and market share of electric vehicles are declining

We can say that this situation was a major blow to Ford’s operations in Europe. Ford opens factory in Cologne to the production of electric vehicles It had invested $2 billion to prepare it. Additionally, Ford’s electric car offensive in Europe replaced the popular supermini Fiesta, production of which ceased in July 2023. The number of Ford internal combustion vehicles is gradually decreasing; The Mondeo will be discontinued in 2022 and the Focus will be retired in 2025.

Ford’s share of the European market fell from 4.1% to 3.3% in the first nine months of the year. According to data from the Association of European Automobile Manufacturers, Ford sold 326,975 vehicles during the period, down 18% from the previous year. It was reported that additional production cuts are planned at the Cologne plant in early 2025.

Company annual accounts Capacity of 250,000 electric vehicles It doesn’t seem possible for the time being. Production will also be halted at the Dearborn plant in Michigan between November 15 and January 6, 2025 due to lack of demand. Ford will therefore stop production for the second time; first time in February due to quality issues production was stopped.