LONDON – Ford announced Monday that it intends to spend $315 million (£230 million) transforming a factory in northwest England into a site that will make components for electric vehicles.

U.S. Motor giant, Ford, announced that the vehicle transmission center in Halewood (Merseyside) will be converted into an electric unit production facility.

Ford stressed that the investment is subject to and includes U.K. government support, which reportedly amounts to £30 million.

Stuart Rowley (President of Ford Europe), stated that this was an important milestone and marked Ford’s first-ever in-house investment into all-electric vehicle components manufacturing in Europe.

It strengthens our capability to deliver all Ford passenger vehicles in Europe as all-electric, and up to two-thirds (or more) of our commercial vehicle sales by 2030 being either all-electric or plugging-in hybrid.

Ford indicated that they will be manufacturing electric power units in Halewood starting mid-2024. It also stated it expects to produce approximately 250,000 units annually at the location.

The U.K. government was elected last year created a £500 million potattempt to convince battery and electric vehicle producers to expand operations in the U.K. The U.K. should stop selling new petrol or diesel vehicles by 2030.

This year’s other events Nissan StellantisThe fourth-largest carmaker in the world, BMW, announced that they would be investing in electric vehicles at U.K. factories. BMW makes its electric Mini already at an Oxford site.

Kwasi Kwasi Kwarteng, U.K. Minister of Business said that Ford’s decision in Europe to produce its first components at Halewood is a further indication that the UK continues to be a top-ranking country for automotive manufacturing.

Ford claimed that the investment will protect 500 factory jobs.