Ford has announced some new goals for its EVs, which includes the addition of a new electric midsize SUV for Europe and new battery packs for its existing EVs. This is all part of Ford’s goal of selling 600,000 electric vehicles annually by late 2023 and more than 2 million by 2026.
Ford plans to reach that 600k goal by selling:
- 270,000 Mustang Mach-Es for North America, Europe and China
- 150,000 F-150 Lightnings for North America
- 150,000 Transit EVs for North America and Europe
- 30,000 units of an all-new SUV for Europe
The automaker has also announced that it has secured 100 percent of the annual battery cell capacity needed for the EVs. Contemporary Amperex Technology Co., Ltd. is going to provide lithium iron phosphate battery packs for Mustang Mach-Es sold in North America next year and F-150 Lightnings in early 2024. Ford also announced it plans to localize and use 40 GWh of LFP capacity in North America starting in 2026. Additionally Ford is also tapping LG Energy Solution and SK On to help with its battery needs. Lastly Ford says that it is also direct-sourcing battery cell raw materials.
“Ford’s new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly,” said Jim Farley, Ford’s president and CEO and president of Ford Model e. “Our Model e team has moved with speed, focus and creativity to secure the battery capacity and raw materials we need to deliver breakthrough EVs for millions of customers.”