LONDON—Ford Motor Co on Wednesday said its car lineup in Europe will be all-electric by 2030 as the U.S. automaker races to get ahead of CO2 emissions targets and looming bans in some countries on fossil fuel vehicles. The carmaker said it will invest $1 billion over the next 30 months to convert its vehicle assembly plant in Cologne, Germany, to become the U.S. automaker’s first electric vehicle facility in Europe. “This reinforces our commitment to the European region,” Stuart Rowley, head of Ford’s European operations, said during a news conference. Ford said its first European-built, all-electric passenger vehicle will be produced at the facility from 2023 and is considering building a second model there. The carmaker has a strategic alliance with Volkswagen AG, under which Ford will use its German partner’s MEB electric vehicle platform to build some models. Rowley said the model out of Cologne will be the …