Please ensure Javascript is enabled for purposes of website accessibility

Ford Just Announced Another Battery-Electric Commercial Van

By John Rosevear - Updated Mar 16, 2021 at 10:07AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

A battery-powered version of the Transit Custom, a midsize van popular in Europe, is on the way.

Ford Motor Company (F 3.23%) said today that it will add a battery-electric version of its midsize Transit Custom to its commercial-van lineup in 2023.

The next-generation version of the Transit Custom, a midsize commercial van popular in Europe, will also be offered in plug-in hybrid and so-called "mild hybrid" versions, as well as conventional internal-combustion and the new fully electric iteration, when it debuts in about two years, Ford said.

Ford builds the Transit Custom in a factory in Kocaeli Province in Turkey that is owned by Ford Otosan, its longtime joint venture with Turkish industrial conglomerate Koç Holding (KHOLY 2.60%). Ford Otosan said in December that it will invest 2 billion euros ($2.38 billion) in the factory, about 60 miles southeast of Istanbul, to increase production of battery packs and completed vehicles. 

A copper-colored Ford Transit Custom, a midsize commercial van.

Ford's midsize Transit Custom is a popular alternative to the full-size Transit in Europe, where its shorter wheelbase makes it easier to maneuver on Europe's tight city streets. An electric version is coming in 2023. Image source: Ford Motor Company. 

Ford of Europe's president, Stuart Rowley, said that the new electric Transit Custom will help strengthen the company's leading position in commercial vehicles in Europe, a key priority in CEO Jim Farley's bid to ensure that its European operation remains sustainably profitable.

"Transit Custom is the jewel in our commercial vehicle crown and key in our drive to grow our commercial vehicle business [in Europe]," Rowley said. 

Ford also confirmed that the Kocaeli plant will build a new commercial van for Volkswagen (VWAGY 4.44%) that will share underpinnings with the all-new Transit Custom, part of the expanded partnership between Ford and VW announced last year. 

Ford plans to launch a battery-electric version of the full-size Transit commercial van, called the E-Transit, later this year. It will be built in Kansas City, Missouri.

The new Transit Custom is expected to launch in the first half of 2023, Ford said. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Ford Motor Company Stock Quote
Ford Motor Company
F
$13.12 (3.23%) $0.41
Volkswagen Aktiengesellschaft Stock Quote
Volkswagen Aktiengesellschaft
VWAGY
$20.75 (4.44%) $0.88
Koç Holding A.S. Stock Quote
Koç Holding A.S.
KHOLY
$11.93 (2.60%) $0.30

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
332%
 
S&P 500 Returns
118%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.