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Ford Plans to Build 600,000 EVs Annually by 2023, Over 2 Million by 2026
CNet ^ | July 21, 2022 1:17 p.m. PT | Antuan Goodwin

Posted on 07/28/2022 10:55:54 AM PDT by Red Badger

F 150 Lightning charging a Mustang Mach E

Ford expects demand for its F-150 Lightning, Mach-E and the rest of its EV portfolio to grow significantly over the next few year. Ford

What's happening

Ford announced its plans to ramp global electric truck, van and SUV production up to 600,000 units annually by 2023.

Why it matters

Demand for EVs (and the batteries that power them) is expected to accelerate dramatically over the next few years.

What's next

Ford will begin using new, less expensive batteries in the Mustang Mach-E next year and in the F-150 Lightning by 2024.

A question often raised by electric vehicle naysayers, believers and manufacturers alike is, where are we going to get the materials and batteries to power all of these EVs? Ford is confident that it has the answer, announcing Thursday that it has secured materials contracts that will enable a global production capacity of around 600,000 EVs annually by late 2023 and scale to an annual output of over 2 million vehicles by 2026.

Ford cites an EY study saying more than half (52%) of global consumers intending to buy a car in the next two years intend to choose an EV or hybrid electric vehicle. Here in the US, that number drops to 29% of surveyed shoppers, but that's still a lot of demand for electric cars and the batteries to run them. Ford's supply chain solution is twofold: It's diversifying its battery chemistries and partnering with multiple battery and materials suppliers around the world to build the 60 gigawatt hours' worth of battery capacity it'll need each year to meet demand.

The automaker says that it will begin adding lithium iron phosphate (LFP) cell chemistry into its product portfolio alongside the current nickel cobalt manganese (NCM) packs beginning with the Mustang Mach-E next year and the F-150 Lightning electric pickup in 2024. LFP has the advantage of using less rare materials in its chemistry, making it easier to source and less expensive per kilowatt-hour, about 10% to 15% less expensive according to Ford's estimates.

Ford's announced partnerships with Contemporary Amperex Technology, LG Energy Solutions and SK On will support the full goal of 600,000 global EVs annually. Ford said it expects it'll be building 270,000 Mustang Mach-Es for North America, Europe and China, 150,000 North American F-150 Lightnings and 150,000 Transit EVs for North America and Europe each year by the end of 2023. The automaker also has plans to introduce an annual run of 30,000 examples of an all-new European SUV within the same time frame.

Looking further down the line, Ford expects EV adoption rates to continue to accelerate over the next decade. To keep up with the growth, it's also announced a goal of an annual run of 2 million EVs globally by 2026 and that it has sourced about 70% of the future materials capacity needed (about 1.4 million cars' worth) toward hitting this mark. The plan includes around 40 GWh per year of LFP production capacity and utilization in North America by 2026 along with continued cooperation with CATL for global battery supply. Other direct partnerships with mining companies will provide Ford with sourcing of battery raw materials in North America, Australia, Indonesia and other global sources.


TOPICS: Business/Economy; History; Society; Travel
KEYWORDS: ev; ford; iylm
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1 posted on 07/28/2022 10:55:54 AM PDT by Red Badger
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To: Red Badger

Just don’t charge them during heat waves.


2 posted on 07/28/2022 10:56:38 AM PDT by SamAdams76 (3,614,258 users on Truth Social)
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To: Red Badger

Ford plans on supercharging their trek to bankruptcy. No worries though if they can’t sell the vehicles they will just run to D C and take the money directly out of our pockets with ANOTHER BAILOUT.


3 posted on 07/28/2022 10:58:16 AM PDT by ping jockey (another day, another fruitless search for a Dodge Challenger 6.4L Hemi, Manual 6 spd, SCAT PACK. )
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To: Red Badger

Such an informative article — SNORT! The author conveniently omitted critical information:
1. Energy density of the new batteries. Are they closing in on hydrocarbon fuels? Or still at 1/13 of hydrocarbons?
2. Life of the battery
3. Dependence on China for materials. How convenient the author left that out.
4. Dependence on African child labor for cobalt.
5. Recyclability of the new batteries.
6. And biggest of all, where is all the power coming from to charge these batteries?


4 posted on 07/28/2022 10:59:49 AM PDT by ProtectOurFreedom (“...see whether we in our day and generation may not perform something worthy to be remembered.”)
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To: Red Badger

I don’t want one.


5 posted on 07/28/2022 11:00:41 AM PDT by GaltAdonis
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To: Red Badger

What are the electric utilities doing to support this?


6 posted on 07/28/2022 11:00:59 AM PDT by Paladin2
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To: Red Badger

Ford will produce them - and government will FORCE you to buy them.


7 posted on 07/28/2022 11:01:28 AM PDT by PGR88
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To: Red Badger
Ford will begin using new, less expensive batteries


8 posted on 07/28/2022 11:01:33 AM PDT by monkeyshine (live and let live is dead)
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To: Red Badger

Yeah, they can build them, but will they sell them. I’m not buying.


9 posted on 07/28/2022 11:01:57 AM PDT by ConservativeInPA (Scratch a leftist and you'll find a fascist )
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To: Red Badger

I wonder just how many engineers and marketing analysts at Ford have been sending out their resumes since no one at Ford listens to them.


10 posted on 07/28/2022 11:02:20 AM PDT by CodeToad (“If you are receiving this transmission, you are the resistance.”)
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To: PGR88

Force will not be required

There won’t be anything else to buy..........................


11 posted on 07/28/2022 11:02:49 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
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To: ping jockey

Yes, you can see BAILOUT steaming straight at us on a collision course. Before that hits us, there will be more HUGE federal tax subsidies to get people to buy EVs. Both ways our pockets get picked.

How many gasoline stations will close before people admit “Whoops, big mistake. The EV demand is not what we forecasted. We need to continue reliance on gasoline and diesel”?

This is what’s happening in Europe with them scrambling to restart old mothballed coal plants with the natural gas shortage and with the failure of “green” energy sources.


12 posted on 07/28/2022 11:02:49 AM PDT by ProtectOurFreedom (“...see whether we in our day and generation may not perform something worthy to be remembered.”)
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To: SamAdams76

Heat waves...or winters. Here in Buffalo, (and this may come as a surprise to some of you), it can get cold during the winters. The car heaters run on battery power. This drains the battery quicker. God forbid you as stuck in a traffic, or a snowbank during a blizzard and the power goes out.


13 posted on 07/28/2022 11:03:06 AM PDT by fhayek
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To: Red Badger

Electric cars have one advantage: When utilities are out and gas is rationed, those with solar systems can charge and drive.


14 posted on 07/28/2022 11:03:11 AM PDT by CodeToad (“If you are receiving this transmission, you are the resistance.”)
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To: Paladin2

NADA.......................

And I don’t mean the National Automobile Dealers Association!....................


15 posted on 07/28/2022 11:03:48 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
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To: SamAdams76

It’s a very hard decision for automakers - how fast to transition to EV’s. I have the feeling that Ford may be moving too fast and like their investment in Rivian, it may be the exploding cigar in their face. Ford miraculously survived the 2008 recession without resort to Title 11, but if it gets ahead of the curve too much on EV’s may be prime for a bailout.


16 posted on 07/28/2022 11:03:50 AM PDT by Wally_Kalbacken
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To: Red Badger

Wow.....I will never buy one


17 posted on 07/28/2022 11:03:53 AM PDT by Osage Orange (Had a tag line a couple times....maybe have another someday.)
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To: Red Badger

get woke, go broke.


18 posted on 07/28/2022 11:04:10 AM PDT by dadfly
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To: Red Badger

In other words, Ford is saying that if you are under 30 years old, you will have an EV in your lifetime, and you will have no choice but to have an EV.


19 posted on 07/28/2022 11:04:42 AM PDT by Round Earther
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To: Red Badger

Won’t be able to if they can’t sell them


20 posted on 07/28/2022 11:05:11 AM PDT by Nifster (I see puppy dogs in the clouds )
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