Stock Market News
Ford delays Spanish investments, citing “revised outlook for Europe”
2022.08.24 15:50
FILE PHOTO: Ford cars are on sale at a dealership of Genser company in Moscow, Russia, February 14, 2017. REUTERS/Maxim Shemetov
MADRID (Reuters) – Ford 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).
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.
