Ford Secures 60 GWh of Battery Supply to Achieve Production of 600,000 EVs

Ford announced that it managed to secure 60 GWh of battery supply in order to achieve an annual production run rate of 600,000 electric vehicles by the end of 2023.

The automaker also confirmed a move to iron-phosphate (LFP) cells to help achieve the goal.

"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. "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."

Ford has affirmed to create a new EV supply chain that upholds its commitments to sustainability and human rights, while also meeting the targets of realizing more than half its global production to be EVs by 2030 and achieving carbon neutrality globally no later than 2050.

In this regard, the company has claimed to have secured 100 percent of the annual battery cell capacity of 60 GWh needed to support this 600,000 EV run rate by working with leading battery companies around the globe.