Ford Motor ($F@US) introduced its first fully-new electric vehicle designed solely for the European market on Tuesday as part of its plans to make its European lineup fully electric by 2030. The naming of the EV is a key component of the company's strategy to utilize its "most iconic" brands for EVs, including the Mustang Mach-E crossover and F-150 Lightning. Ford will utilize the Volkswagen Group’s ($VWAPY@Germany) all-electric “MEB” platform at Ford’s factory in Cologne, Germany, to produce the vehicle. The Detroit-based automaker will offer the EV in two trims: Explorer= and Explorer Premium, with a starting price of less than 45,000 euros (about $48,250) when sales launch later this year.