The motor giant also said its commercial models would be 100% zero-emissions capable, all-electric or plug-in hybrid by 2024.
The move comes after Ford reported a return to profit in Europe in the fourth quarter of 2020.
The firm said it was investing at least $22bn (£15.8bn) globally in electrification to 2025, nearly twice the company’s previous investment plans.
Ford of Europe president Stuart Rowley said: “We successfully restructured Ford of Europe and returned to profitability in the fourth quarter of 2020.
