BARCELONA -- Ford Motor Co. said it is delaying its production investments in Spain, citing a "revised outlook for Europe" but said it remained committed to its plant in Valencia.
The automaker will not ask for a share of Spain's EU pandemic relief funds to invest in the roll out of EVs by June 2025, Ford said on Wednesday. It said it will work with the authorities to identify other potential public funding as it moves to an all-electric fleet of passenger vehicles in Europe by 2030.
In June, Ford said it will build its next-generation electric vehicles in Valencia.
Ford did not give further details on its revised outlook for Europe. It said earlier this week it will cut a total of 3,000 salaried and contract jobs, mostly in North America and India.