Ford Is Postponing Its Investment Related To Electric Vehicles In Spain

JAKARTA - A few months ago, Ford first announced that it plans to invest in electric vehicles (EVs) in Valencia, Spain. But apparently, the US car manufacturer postponed plans.

Cited from a report from Reuters last week, the company revealed its decision to delay its production investment in Spain.

Despite delaying its investment, Ford said it remains committed to its factories there. Previously, the company applied for EU Spain's pandemic relief funds to support its investments.

However, through a statement, Ford said it would not ask for part of the EU Spain pandemic aid fund to invest in the launch of EVs in June 2025.

Instead, they will work with local authorities to identify other potential public funding as they move into an all-electric passenger vehicle fleet by 2030.

Ford did not provide further details on the revised prospects for Europe. It said earlier this week it would cut a total of 3,000 paid and contract jobs, mostly in North America and India.

However, a spokesman for the Spanish Ford said that currently, the company will not cut employees at its factory located in Valencia, but they will hold a labor restructuring.

"The Spanish government maintains its commitment to supporting Ford in its current and future investments in Spain," the Ministry of Industry said in a statement.

Ford has applied for help from the Spanish EU pandemic in May, and has allocated 106 million euros, but withdrew his request on Tuesday ahead of the deadline for potential changes, the ministry said.