.Ford targets 600,000 EVs by late 2023, announces major battery plans:
Ford aims to increase its annual EV production to 2 million units by the end of 2026 and says it has sourced 70 percent of the battery capacity needed for this target.
Ford has announced ambitious plans to ramp up its production of electric vehicles, detailing new partnerships for battery production and sources for raw materials. Ford claims that with these new suppliers in place, it is on track to reach its goal of an annual rate of building 600,000 EVs by late 2023, and eventually boosting production to more than 2 million EVs annually by the end of 2026.
This plan will see a $50 billion investment from Ford into EVs, aiming for half of its worldwide production to be electric vehicles by 2030 en route to achieving carbon neutrality by 2050. Ford says that it has secured 60 gigawatt-hours, which is 100 percent of the annual battery-cell capacity that it needs to reach its 2023 goal. This news comes a day after Bloomberg reported thatFord broke down how it expects to reach 600,000 EVs per year by late next year.
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