* The plant in Craiova in southern Romania will become Ford’s third European production facility to build an all-electric vehicle, following recent investments in its plants in Cologne, Germany, and Kocaeli, Turkey https://www.wardsauto.com/ informs. Ford is expanding and modernizing its assembly plant in Craiova, Romania, as it prepares to build a new light-commercial vehicle from 2023, followed by a battery-electric version in 2024. The plant in Craiova in southern Romania will become Ford’s third European production facility to build an all-electric vehicle, following recent investments in its plants in Cologne, Germany, and Kocaeli, Turkey. The new LCV, however, will be equipped with some of Ford’s most advanced internal-combustion engines, including diesels from the automaker’s Dagenham (U.K.) Engine Plant. Transmissions will be sourced from Halewood, U.K. Despite growing consumer demand, EV production in Romania is relatively small and the country’s charging infrastructure is severely underdeveloped compared with other European Union countries. The electric Ford FCV could help expand the market. The expansion at Craiova follows Ford’s investment of almost €2 billion ($2.26 billion) into the plant since acquiring a 72.4% stake in the facility from Daewoo Automobile Romania in 2008. That total includes €200 million ($238 million) invested in production of the Puma compact CUV – Ford’s best-selling vehicle in Romania – introduced in October 2019. Ford also invested €200 million in Craiova for production of the EcoSport CUV launched in October 2017. The EcoSport and Puma account for 53% of the passenger vehicles made by Ford in Romania, where the U.S. automaker employs about 6,000 people. The Craiova factory, which also manufactures 1.0L EcoBoost engines, has more than 600 robots used in the body, stamping, paint, trim and chassis shops. Ford announced last year it was investing $30 million in a new pressing line at Craiova in order to produce a wider range of components.
Romania's efforts to stabilize its fiscal position and finalize a new ruling coalition have been delayed after president Nicușor Dan rejected a proposed VAT rate increase central to a budgetary corrective package agreed by the four pro-Western parties,
A sword that may date back to the Bronze Age, roughly 3,500 years ago, was found following searches carried out in a case of aggravated theft, in the commune of Corbasca, Bacău County. The searches targeted the home of a 61-year-old man suspected of illegally possessing a cultural asset likely to be part of the […]
The construction works volume in Romania decreased by 0.5% y/y in gross terms and by 2.8% in workday and seasonal adjusted terms in April, after it boasted a robust 10.6% y/y advance in Q1 (largely on low base effects), according to data published by the statistics office. By type of construction, engineering works—representing approximately 45% […]
Romania's economic sentiment rebounded sharply in May following the presidential election victory of pro-Western candidate Nicușor Dan, according to data published by the CFA Romania Society on June 19. The recovery comes after a significant decline in April amid fears of a potential win by isolationist candidate George Simion. After the recovery in May, the […]
Salt Bank has appointed Vikram Tikoo as its new Chief Technology Officer, marking a significant step forward in the company's pursuit of its digital banking vision. The appointment will take effect once approved by the National Bank of Romania. Vikram has extensive international experience delivering technology solutions on a global scale. He will help enhance […]
Romania’s average net wage, which has posted annual growth rates for nearly two years, advanced by only 3.5% y/y in CFI deflated terms - the lowest growth rate since April 2023, according to data published by the statistics office INS. In nominal terms, the annual advance was 9.9% – the second-lowest growth rate since 2021. […]
