Ford announced that its entire commercial vehicle range in Europe will be zero-emissions capable, all-electric or plug-in hybrid, by 2024, with two-thirds of its commercial vehicle sales expected to be all-electric or plug-in hybrid by 2030, the automaker said.

Similarly, Ford of Europe said that 100% of its passenger vehicles will also be zero-emissions capable, all-electric or plug-in hybrid by 2026, and will be completely all-electric by 2030.

The news comes after Ford announced it was investing at least $22 billion globally in electrification through 2025, nearly twice the company’s previous EV investment plans, according to the automaker.

“We successfully restructured Ford of Europe and returned to profitability in the fourth quarter of 2020. Now we are charging into an all-electric future in Europe with expressive new vehicles and a world-class connected customer experience,” said Stuart Rowley, president, Ford of Europe. “We expect to continue our strong momentum this year in Europe and remain on track to deliver our goal of a six percent EBIT margin as part of Ford’s plan to turnaround our global automotive operations.”

Spearheading Ford’s advance into an all-electric future is a new $1 billion investment to modernize its vehicle assembly facility in Cologne, Germany, one of its largest manufacturing centers in Europe and the home of Ford of Europe, the automaker said. The investment will transform the existing vehicle assembly operations into the Ford Cologne Electrification Center for the manufacture of electric vehicles.

Ford also confirmed that its first European-built, volume all-electric passenger vehicle for European customers will be produced at the facility from 2023, with the potential for a second all-electric vehicle built there under consideration.

"The decision to make the production and development site in Cologne the e-mobility center for Ford in Europe is an important signal to the entire workforce," said Martin Hennig, chairman of the General Works Council of Ford-Werke GmbH. "It offers a long-term perspective for our employees and at the same time encourages them to help shape this electric future."

Driving further growth in the commercial vehicle business will be an ecosystem built around connected services co-developed with customers and designed to enhance the customer experience and help their businesses to thrive, Ford said.