Ford releases new battery capacity plan, raw materials details to scale EVs

Ford releases new battery capacity plan, raw materials details to scale EVs

- Ford has added battery chemistries and secured contracts delivering 60 gigawatt hours (GWh) of annual battery capacity to deliver global 600,000 EV run rate by late 2023

- Lithium iron phosphate battery packs coming for Mustang Mach-Es sold in North America next year and F-150 Lightnings in early 2024, creating more capacity for high-demand products

- Ford already has sourced 70% of battery capacity to support 2 million+ annual EV global run rate by 2026; plans to localize 40 GWh per year of lithium iron phosphate capacity in N.A. in 2026; new deal with CATL on strategic cooperation for global battery supply; and direct-sourcing battery raw materials in U.S., Australia, Indonesia – and more

- Company expects compound annual growth rate for EVs to top 90% through 2026; more than double forecasted global industry EV growth

Dubai, UAE – Building on strong demand for its new EVs, Ford today announced a series of initiatives for sourcing battery capacity and raw materials that light a clear path to reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.

The company detailed its global vehicle portfolio plans supporting these production goals as part