Ford is finalizing its plans to EV production expansion, and it will rely in part on new battery materials to achieve those goals. Car manufacturer now expectations achieve a global production rate of 600,000 EVs per year by the end of 2023 thanks in part to lithium iron phosphate battery packs in some of its vehicles, starting with Mustang Mach-Es sold in North America (in 2023) and F-150 Lightning (early 2024). The chemical will expand Ford’s capacity, allowing for “years-long” use with less range loss, cutting production costs and reducing reliance on vulnerable materials such as nickel.
At that 600,000 EV, nearly half (270,000) of the vehicles produced will be Mustang Mach-Es destined for China, Europe, and North America. The F-150 Lightning in North America will account for 150,000 EVs, while the rest includes 150,000 electric vans and 30,000 units. European SUV is yet to be named. Ford says it has secured all the required annual battery capacity to achieve this goal and 70% of the capacity required to reach its more ambitious goal of 2 million EVs per year by the end of 2026.
The news comes just hours after a report that Ford may cut up to 8,000 jobs to help fund its EV plans. Recent Brands divided into combustion parts and EV to help with electrification, and has committed $50 billion to electrification.
Ford had set a production target of 600,000 EVs earlier. However, the development of the battery and the narrower timeframe paint a clearer picture of how that growth will play out. Currently, the pressure is growing on the company to ramp up production. It’s only going to make 27,140 EVs in 2021, and there’s a significant backlog – you can’t even place a standard retail order for the 2022 Mach-E “due to high demand.” To some extent, the improved scale is like it is preparing for an all-electric future.
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