Ford UK has received a major boost to its electric vehicle (EV) ambitions with the approval of a GBP 1 billion export development guarantee from the British government agency UK Export Finance (UKEF). The funding will support Ford’s transition to electric mobility, enhance its export operations, and safeguard thousands of UK jobs.
The financing facility, backed by Citibank and a syndicate of lenders with UKEF guaranteeing 80% (GBP 800 million) of the loan, marks the third such guarantee provided to Ford since 2020. With this latest move, UKEF’s total support to Ford now stands at nearly GBP 2.4 billion.
The investment will support developments at Ford’s key UK facilities, particularly the Halewood manufacturing plant and the research and development centre in Essex. Halewood has already undergone a GBP 380 million upgrade to produce electric drive units for popular models like the Ford Transit and Ford Puma. Meanwhile, Essex received a GBP 70 million investment to advance EV testing and development, reinforcing the UK’s strategic role in Ford’s European EV supply chain.
“Recent investments in the UK have proved crucial to our European operations and have expanded our UK export capability,” said Lisa Brankin, Chair of Ford Britain. “This new UKEF facility will play an important role in supporting our UK exporting footprint, especially amid ongoing trade uncertainties and challenges in aligning EV targets with customer demand.”
Tim Reid, Chief Executive of UK Export Finance, highlighted the importance of the partnership: “This is a wonderful example of UKEF’s collaboration with the automotive industry. Boosting growth, securing jobs, expanding exports, and doing so sustainably—that’s what UKEF does best.”
The loan guarantee comes as part of broader UK government initiatives aimed at driving industrial growth and decarbonisation. These measures include lower electricity costs for manufacturers, updated zero-emission vehicle (ZEV) mandates, and new trade agreements, such as one with the US that reduces tariffs on British automotive exports.
Business and Trade Secretary Jonathan Reynolds emphasised the strategic value of the support: “We’re proud of our historic auto sector and the commitment that global companies like Ford have made to manufacturing and jobs in the UK. I’m delighted that UKEF is backing Ford in supporting its growth ambitions and helping cement our status as a global manufacturing leader.”
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