Ford announces a new strategy for battery capacity, provides additional information on raw materials to enhance the production of electric cars, and projects sales of 600,000 by 2023 and more than 2 million by 2026.
Until 2026, when it wants to reach a volume of two million units annually, American carmaker Ford anticipates a yearly rise in the manufacturing of electric vehicles of more than 90%.
The oval multinational stated in the context of its Ford+ strategy plan that the volume of electric model manufacture will double the increase anticipated by the industry, achieving a global volume of 600,000 units next year.
Ford will produce two hundred seventy thousand of the total number of electric vehicles in 2023 will be the Mustang Mach-E, while the company will also produce 150,000 F-150 flashes of Lightning, 150,000 electric Transits, and 30,000 units of a new SUV for Europe.
Jim Farley, the company's chairman and CEO, said that demand for Ford's new line of electric vehicles has been "hugely excited" and that the industrial system is being prepared to grow "rapidly."
"To obtain the battery capacity and raw materials we need to offer ground-breaking electric vehicles to millions of consumers, our Model e team has worked with speed, focus, and ingenuity."
Until 2026, the international company with headquarters in Dearborn, Michigan, intends to invest 50,000 million dollars (or 49,500 million euros at the current exchange rate) in electric cars. The corporation aims to reach a combined operating margin of 10% for that year, with an additional 8% specifically for the electric car market.
The business projects that by 2030, electric cars will make up more than half of all the vehicles it produces globally and that by 2050, it will have achieved carbon neutrality.
By 2035, the automaker hopes to have a carbon-neutral footprint across all its facilities, logistics, and European suppliers. To achieve this goal, the Cologne plant will begin producing the first electric passenger car in 2023. A second electric model will follow in the middle of 2024, and it is anticipated that this facility will produce 200,000 electric vehicles annually.
Ford has also stated that it has 100% of the yearly battery cell capacity required to enable the production of 600,000 electrified vehicles secured. To deliver entire LFP battery packs, it has agreements with CATL, and it works with LG Energy Solutions and SK On.
In parallel, the US corporation is looking into working with CATL to supply Ford with batteries in China, Europe, and North America. 40-gigawatt hours of LFP capacity will be located and used by the oval company in North America by 2026.
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