Ford reboots its European strategy with electrification

Bloomberg

Ford Motor Co will roll out four plug-in hybrids and two battery-powered models in its latest effort to boost its loss-making business in Europe, where manufacturers face slowing sales and tightening emissions rules.
The US carmaker said it will offer a new compact Puma, part of a revamped SUV lineup that includes the Explorer and an overhauled version of the Kuga. The Puma, to be built at Ford’s Craiova plant in Romania, will be available with a mild-hybrid variant.
The electrification effort, which lags more ambitious plans at rivals Volkswagen AG and Renault SA, comes amid speculation about the US carmaker’s future in the region. Ford, which employs some 54,000 in Europe, last month said it will pull out of the Russian car market and close three plants there. Detroit peer General Motors Co sold its European Opel and Vauxhall brands to Peugeot-maker PSA Group in 2017 after two decades of losses.
“Ford in Europe isn’t going anywhere but forward,” Ford of Europe Chairman Steven Armstrong told reporters in Amsterdam. “This is Ford re-engineering itself for an exciting connected future and making electrification relevant to millions.”