Ford’s car lineup to be all-electric by 2030

In an attempt to get ahead of CO2 emissions targets and to bypass impending bans on fossil fuel vehicles, Ford Motor Co on Wednesday revealed that its car lineup in Europe will be all-electric by 2030.

Ford said it will invest $1 billion over the next 30 months to convert its vehicle assembly plant in Cologne, Germany, to become the U.S. automaker’s first electric vehicle facility in Europe.

Ford also said its first European-built, all-electric passenger vehicle will be produced at the facility from 2023 and is considering building a second model there.

The carmaker has a strategic alliance with Volkswagen AG, under which Ford will use its German partner’s MEB electric vehicle platform to build some models.

The No.2 U.S. automaker said that by 2026 it will have electric versions of all its passenger cars on sale in Europe and that by 2030 two=thirds of its commercial vehicle sales in Europe will be fully electric or plug-in hybrids.

Ford intends to have plug-in hybrid or fully-electric versions of its entire commercial vehicle range available by 2024.

Ford currently dominates the U.S. and European markets for gasoline-powered commercial vehicles with shares of 40% and almost 15%, respectively.