Ford aims to be second largest EV maker in two years

Ford aims to be second largest EV maker in two years

Ford has announced a highly ambitious plan to be the world’s second largest electric vehicle manufacturer within the next two years. To do that, it will have to one-up Volkswagen’s massive EV investment, and beat age-old rival GM (Stellantis) in the race for third place.

But it’s not impossible. A top company executive told Reuters recently that it’s targeting an annual production capacity of close to 600,000. This is on the back of strong demand for its F-150 Lightning, which sees retail reservations approaching 200,000 units, said Ford North America COO, Lisa Drake.

She also said the Blue Oval is working to vertically integrate more EV components such as power electronics and e-drive technologies. “We haven’t used ‘vertical integration’ in this industry in a long time, but you’re going to hear it a lot more,” Drake noted, adding that Ford is currently working with five global battery suppliers (LG Energy Solution, CATL, BYD, SK On and Panasonic) to develop and manufacture battery cells for its upcoming EVs.

The global production target is 240 gigawatt-hours by 2030, and Drake expects battery cell cost to go down to US$80 (RM338) per kWh at the peak level “well before the end of the decade.” Speaking of costs, it’s looking at different chemical compositions, including cobalt-free lithium iron phosphate and cell-to-pack structural batteries to further drive down costs.

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Matthew H Tong

An ardent believer that fun cars need not be fast and fast cars may not always be fun. Matt advocates the purity and simplicity of manually swapping cogs while coping in silence of its impending doom. Matt's not hot. Never hot.

 

Comments

  • Hahahaha……….

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  • Stellantis is not GM. They are competitors. Get your facts right!

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    • dream125 on Dec 08, 2021 at 8:26 pm

      You’re right, Stellantis is actually Peugeot Group (Peugeot, Chrysler, Dodge, Jeep, Maserati, DS Automobiles, RAM, Fiat, Citroen, Opel, Vauxhall).

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  • Semi-Value (Member) on Dec 07, 2021 at 9:28 pm

    full of repair daily

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