- Ford Motor Co F aims to invest up to £230 million ($316 million) to build electric car components at its Halewood factory in northern England, Reuters reports.
- The Ford plant will produce ~250,000 power units a year from mid-2024, the first European in-house location to make electric vehicle parts for Ford, the report adds.
- "This is an important step, marking Ford's first in-house investment in all-electric vehicle component manufacturing in Europe," Ford's Europe President Stuart Rowley said.
- The government is contributing to the investment through its Automotive Transformation Fund.
- Ford also has a transmission facility in Cologne, Germany. Halewood, which employs about 500 people.
- Price Action: F shares closed higher by 1.23% at $15.70 on Friday.
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