The agreement by which Ford Otosan, the largest commercial vehicle manufacturer in Europe, takes over ownership of the Ford factory in Craiova, Romania has been completed, the company announced.
Through this agreement, romania-insider.com reported, Ford transferred ownership of its Craiova plant, which produces vehicles and engines, to Ford Otosan, allowing the company to expand its operations internationally.
To support the launch of the next Courier, Ford Otosan announced on 1 July an investment of EUR490m at the Romanian plant, which will be implemented over the next three years.
The Craiova factory will produce the new generation Courier model, both the Transit freight version and the Tourneo passenger version, which will go into production in 2023, with a fully electric version to come in 2024.
Ford will also add a full electric variant of the Puma, its best selling car in Europe, to its range in 2024, building the model alongside other versions in Romania.
Total production capacity at Craiova consequently will increase from 250,000 vehicles per year to 272,000.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData