Ford is weeks away from making a decision whether to strike a deal with Volkswagen for creating a second electric vehicle on the MEB platform, according to unnamed insiders speaking with Bloomberg. The model would be exclusive to the European market.

"As we have said previously, there is the potential for a second all-electric vehicle based on the MEB platform to be built at Cologne, and that is still under consideration," Ford Europe said in a  statement to Bloomberg.

Ford-VW Joint Venture

Ford and VW's existing joint project agreement has the Blue Oval engineering a midsize pickup (the next-gen Ranger and Amarok) and a one-ton commercial van. VW is creating a small city van and letting Ford build an EV on the MEB platform. They are also partnering on developing autonomous driving technology.

Ford-VW Global Alliance Strategy

A recent rumour says that the already-confirmed, Ford-badged MEB model might look like a tiny version of the Mustang Mach-E (rendered above). It's allegedly about the size of a Focus. The interior room should be impressive for the vehicle's footprint because of the packaging of the motors and batteries.

As part of the deal, Ford will buy 600,000 units of the MEB platform over the course of six years starting in 2023. The automaker will build the EVs at the factory in Cologne, Germany.

Ford recently announced a huge investment into its Craiova, Romania, factory to build a light-commercial vehicle available with combustion engines and fully electric powertrains. Sales of the van will begin in 2024.

"Adding an all-electric version in 2024 means Craiova will be our third facility in Europe to build an all-electric vehicle,” Stuart Rowley, president of Ford for Europe, said about the investment.