FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Ford Motor revealed this week that it is planning to phase out the production of its Mondeo car units in Europe. The automaker will stop making this model in early 2022.
As per Reuters, Ford made the decision to be able to focus on manufacturing more electric cars and SUVs. This is in line with the company’s goal of becoming all-electric by the year 2030.
Ford’s investments for the transition
Since the Mondeo sedans no longer fit with the company’s goal to go fully electric in less than ten years, Ford finds it best to just let go of the model. Thus, it will cease its production next year, so there will no more Mondeo for sale starting the latter part of next year.
The automaker further confirmed that it would only manufacture plug-in hybrids or all-electric cars in Europe, and these will all be passenger-type vehicles. Ford will introduce these vehicles by mid-2026 and leading to full EVs in the next four years from this point.
For this project and transition, Ford is investing a total of $22 billion. Apparently, the company will be spending heavily on this to achieve its electrification goal.
Ford’s other projects after phasing out the Mondeo sedans
In any case, Bloomberg Quint further reported that another reason why Ford is phasing out its Mondeo car line is to make battery packs. It was said that the company is planning to produce this at its plant in Spain.
As part of Ford Motor’s manufacturing strategy to produce more battery packs, it has to give up the Mondeo models. After this car is canceled, the company will proceed with its plan to make more batteries as well as hybrid engines. The productions will take place in its Spanish factory in Valencia.
From the allotted $22 billion investment, Ford will put in $6.2 million or €5.2 million in its Valencia plant. This is on top of the €24 million that was previously announced for funding the facility.
Aside from the batteries, Ford will also continue to make the Galaxy model and S-MAX crossover. Finally, the changes are part of the company’s move to overhaul its business in Europe.
