Ford Otosan completes takeover of Ford plant in Romania and pledges EUR 490 mln investments

The agreement by which Ford Otosan, the largest commercial vehicle manufacturer in Europe, takes over the ownership of the Ford factory in Romania (located at Craiova) has been completed, the company announced.

Through this agreement, Ford transferred ownership of its Craiova plant, which produces vehicles and engines, to Ford Otosan, thus allowing the company to expand its operations internationally.

To support the launch of the next generation of the Courier model, Ford Otosan announced on July 1 an investment of EUR 490 mln at the Romanian plant, which will be implemented over the next three years.

The Craiova factory will produce the new generation of the Courier model, both the Transit version (freight transport) and the Tourneo version (passenger transport), which will go into production in 2023, with a version fully electric from 2024.

Also, Ford Puma, the best-selling Ford car in Europe, will have a fully electric version in 2024, which will be produced at the factory in Romania.

Thus, the total production capacity of the Craiova plant will increase from 250,000 vehicles per year to 272,000 vehicles per year.

(Photo courtesy of the company)