As part of Ford Motor Co.’s effort to raise sales in Europe, it is planning to build at least 20 new or upgraded models in the region in the next three years. Ford said in a statement that it will create "several hundred" jobs at a plant in Valencia, Spain.
It also plans to produce 200 positions at two factories in Germany to support its production plans. Other countries that will gain from the expansion are Romania and Turkey.
Stephen Odell, the CEO of Ford's European division, said that it has a “full pipeline of exciting vehicles” that will soon arrive to the market. He said that Ford is “taking the right actions” so that it can increase its profits in Europe.
On June 7, Ford said that growth in Asia and rising demand for small cars will enhance Ford's global sales by 50% to 8 million vehicles yearly by 2015. Chief Financial Officer Lewis Booth said that it will reduce debt by $2.6 billion in the second quarter.
Ford said that for the European expansion, it plans to produce the next versions of the Transit Connect and Kuga vehicles at Valencia. Ford will create 150 new jobs at the Saarlouis, Germany plant to produce the revamped Focus model and an electric-powered version.