Business Maverick: Ford Secures Batteries to Build 600,000 EVs a Year by 2023

📆 2022-07-21 4:33 PM
📰 dailymaverick

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Ford Motor Co. says it has secured enough battery supply to build more than half a million electric vehicles annually by late next year, a quantum leap above the 27,140 battery-powered cars it sold in the US last year.

in the coming weeks to boost profits and help fund its EV ambitions, according to people familiar with the plan, Bloomberg reported Wednesday.

Lithium iron phosphate battery packs, or LFPs, are widely used in China, but are seen as less powerful than the nickel cobalt manganese batteries, or NCM, that now provide juice to the Mach-E and F-150 Lightning. “I’d love to get into this today but we really just want to focus on the capacities we’ve installed,” Drake said when asked for power specifications on the Mach-E and Lightning with LFP batteries. “You’re going to hear a lot more about this, so be a bit patient with us.”

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