This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEB310N9_M.jpg
American auto maker, Ford Motor Company (NYSE:F) announced on Wednesday that the company will be ending production on the Ford Fiesta. The once best-selling car in the world is being scrapped from the company’s portfolio as Ford continues its push towards a fully electric lineup by 2030.
A spokesman for Ford said that it was “accelerating our efforts to go all in on electrification,” and so the company is reviewing the portfolio of cars it has on offer.
“As we get ready to transition to an electric future, we will discontinue production of S-Max and Galaxy in Valencia, Spain in April 2023 and discontinue Fiesta production in Cologne, Germany by end of June 2023.”
The Fiesta was created originally as a more fuel-efficient, small car in the wake of the 1973 oil crisis. More than 20 million of the cars have since been built for customers worldwide, after it shot to the top of best-seller lists and remained there for decades.
Ford currently only sells two EVs in Europe – the Mustang Mach-E SUV and E-Transit van – but is set to introduce three new passenger vehicles and four commercial vehicles in Europe by 2024. The firm says it plans to sell ‘more than 600,000 electric vehicles’ in Europe by 2026.
Shares of F are up 1.48% in mid-day trading on Wednesday.
