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Ford picks German plant to build new EV, reports say

Ford Motor Co. has chosen its factory in Cologne, Germany, to build a mass-market electric car based on Volkswagen Group’s MEB electric architecture, local media reports said.

The automaker will invest 1 billion euros ($1.2 billion) into the factory for EV production, according a report in the Cologne newspaper, the Koelner Stadt-Anzeiger, and other media.

Ford picked Cologne over its factory in Craiova, Romania, the Stadt-Anzeiger said, citing sources close to the automaker. Craiova had been considered the favorite to get EV production because of its lower labor costs, the paper said.

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