With a strong incentive to demand for their electric vehicles, Ford announced this week that it will carry out a series of initiatives to increase battery capacity and produce more 2 million cars electrical to the end 2026. The company plans to produce 600 thousand electric cars at the end 2023.

The automaker also said it expects the compound annual growth rate of electric vehicles to exceed 90% in 4 years, which will more than double the projected growth of the global industry. The company still plans to invest about $50 billion in electric vehicle manufacturing, supporting ongoing sustainability and human rights commitments to achieve global carbon neutrality by 2050.

Jim Farley, President and CEO of Ford and President of the Ford Model, said: “Ford’s new range of electric vehicles has generated tremendous enthusiasm and demand, and we are now launching an industrial system to scale quickly. Our simulation team moved quickly, focused and creative to ensure we were able to supply the batteries and raw materials needed to deliver innovative electric vehicles to millions of customers.”

Cars are planned until the end of 2023.

To reach the goal of delivering 600,000 electric vehicles a year by the end of 2023, Ford wants to produce the following models:

• 270,000 Mustang Mach-E for North America, Europe and China;
• 150,000 F-150 Lightnings for North America;
• 150,000 electrical transits to North America and Europe;
• 30,000 units of a new SUV for Europe, with production to increase significantly in 2024.

The company also ensured that 100% of the annual battery cell capacity (60 gigawatt-hours) needed to maintain the model production capacity is guaranteed. Ford has also secured 70% of its battery supply to produce more than 2 million electric vehicles per year by 2026.

In addition, to meet the target by 2026, Ford announced mining partners that will supply most of the nickel, such as Vale Canada Ltd., PT Vale Indonesia, Huayou Cobalt and BHP.

In a press release, the manufacturer also indicated that the majority of consumers who intend to buy a car in the coming years have opted for hybrid or electric vehicles, recording an increase of 11% compared to 2021 and 22% compared to 2020.

Xiaomi faces regulatory challenges in its electric car project
The $10 billion project is in the R&D stage.

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