Ford aims to build more than half million EVs by end 2023. Here's the full plan

Ford, by late next year, expects to make 2,70,000 Mustang Mach-Es annually along with 1,50,000 F-150 Lightning models.
By : HT Auto Desk
| Updated on: 22 Jul 2022, 09:05 AM
File photo of Ford F-150 Lightning electric vehicle. 
File photo of Ford F-150 Lightning electric vehicle. 
File photo of Ford F-150 Lightning electric vehicle. 
File photo of Ford F-150 Lightning electric vehicle. 

Ford announced that it has secured enough batteries to develop more than half a million electric vehicles annually by late next year. This is way more than what Ford sold last year in the United States which is 27,140 EVs. Ford said it has signed contracts with suppliers representing 60-gigawatt hours of annual battery capacity which is sufficient to build 6,00,000 EVs a year.

Ford shared it has also secured battery capacity to build more than two million EVs annually from 2026. CEO Jim Farley, in March this year, had shared the same goal for the company. According to a report by Bloomberg, Ford will start using less expensive lithium iron phosphate battery packs produced by CATL in its Mustang Mach-E models starting next year and its all-electric F-150 Lightning pickup truck by early 2024. The automaker also reported that it has planned to get 40-gigawatt hours of those batteries annually in North America in 2026, however, will import these for the time being from China.

Similar Cars

Find More Cars
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price
Mg Zs Ev (HT Auto photo)
Mg Zs Ev
Electric | Automatic
₹21 - 24.68 Lakhs**Ex-showroom price
Mg Zs Ev 2022 (HT Auto photo)
Mg Zs Ev 2022
Electric | Automatic
₹21.99 - 25.88 Lakhs**Ex-showroom price

(Also read | Ford India rolls out last car from Chennai plant, a white EcoSport )

Ford is trying to catch up with popular EV maker Tesla with its massive investment worth $50 billion in electrification through 2026. An earlier report also stated that the automaker is also gearing up to cut 8,000 jobs in the coming weeks to push profits and help fund its EV goals.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

(Also read | Ford looking to cut 8,000 jobs to boost electric vehicle funding )

Ford shared that by late next year, it expects to make 2,70,000 Mustang Mach-Es annually along with 1,50,000 F-150 Lightning models and 150,000 Transit EV commercial vans and 30,000 units of a new electric SUV for Europe. “We are putting the industrial system in place to scale quickly," Farley said. He also added the company's e-team is moving with speed and focus to secure the battery capacity and raw materials that the brand needs.

 

First Published Date: 22 Jul 2022, 09:05 AM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city