What's going on?

Magic mirror on the wall, Ford�s the most electric of them all: the US carmaker announced plans on Monday to step up its electric vehicle (EV) push in Europe by developing seven new models.

What does this mean?

Ford announced plans to split up its EV and traditional engine businesses earlier this month, part of its plan to speed up its shift toward electrification. And it�s not stopping there: the carmaker now has Europe � the world�s second-biggest EV market after China � in its sights, so it�s pouring another $1 billion into its main European production site in Germany. After all, that should help it churn out the seven new EV models � both cars and vans � it�s pledged to launch in Europe over the next two years. If all goes to plan, the carmaker predicts it�ll sell around 600,000 EVs in the region every year from 2026, a step toward its goal of only selling fully electric models by 2035.

Why should I care?

Zooming in: Charged up.
Those EVs will need a lot of batteries, it’s true, but Ford�s prepared. The carmaker announced on Monday that it � along with existing partner and battery maker SK On � will build a battery production plant in Turkey with Koc Holding, the country�s biggest conglomerate. The plant should start churning out batteries from 2025, and looks set to supply a big chunk of Ford�s European EVs with power.

The bigger picture: The American nightmare.
Ford�s US market could use some attention too: supply bottlenecks have stopped the carmaker from reaching production targets in recent months. In fact, it�s so bad that Ford�s told dealers they won�t receive any new cars until the end of May, which will leave showrooms empty during the spring selling season. And since that�ll hit sales, it might be why Ford said over the weekend it expects US sales to fall 12% this year from 2021.