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Ford aims a new electric van at European cities – and startups
Global Banking & Finance Review®
Company
By Joseph White
DETROIT (Reuters) – Ford Motor Co unveiled a new electric Courier van aimed at winning business customers in Europe, and boxing out electric van startups such as Arrival SA.
The electric Courier is part of a revamped lineup of smaller, commercial vans for the European market that will also include gasoline and diesel models, Ford said. The new Courier vans are 25% larger than the current model, and will carry heavier loads, Ford Pro chief Ted Cannis said in an interview.
The electric Courier will respond to European commercial customers who operate in cities, such as Paris, where officials have mapped out plans to ban combustion vehicles from city centers, Cannis said. The electric Courier will launch next year.
However, Cannis said, European countries are not shifting to electric vehicles at the same pace. “Country by country, it’s dramatically different,” he said. Petrol Couriers will stay in the lineup, with new models launching this summer.
“You have to mix and match all options market by market,” he said. “Which is what makes it so different for new players.”
Separately, Cannis said Ford expects many U.S. commercial fleet customers will receive $7,500 tax credits if they buy electric Transit vans. New U.S. government rules will cut the tax credit for retail buyers of electric Transit vans to $3,750 as of April 18, Ford said on Wednesday.
Ford is collaborating with accounting firm Ernst & Young to advise U.S. commercial customers on whether they will qualify for $7,500 tax credits under the Inflation Reduction Act.
(Reporting By Joe White; Editing by Sandra Maler)
An electric van is a vehicle powered entirely by electricity, using electric motors instead of internal combustion engines, making it more environmentally friendly and suitable for urban areas with restrictions on combustion vehicles.
A commercial fleet refers to a group of vehicles owned or leased by a business for the purpose of conducting business operations, such as transporting goods or providing services.
The Inflation Reduction Act is a legislative measure aimed at reducing inflation through various economic strategies, including tax credits for electric vehicle purchases, which can benefit commercial fleet customers.
Combustion vehicles are traditional vehicles powered by internal combustion engines that burn fuel, such as gasoline or diesel, to generate power, contributing to air pollution and greenhouse gas emissions.
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