The American automaker Ford expects to experience an annual increase of more than 90% in the production of electric vehicles until the year 2026, when the company plans to reach an annual volume of two million units, as reported by the company this Thursday.
Within the framework of its Ford+ strategic plan, the oval multinational indicated that its electric model manufacturing volume will double the growth forecast by the sector as a whole, managing to reach a world volume of 600,000 units next year.
Of this total of electric models manufactured by Ford in 2023, 270,000 will correspond to the Mustang Mach-E, while the firm will assemble 150,000 units of the F-150 Lightning, 150,000 electric Transit and 30,000 units of a new SUV for Europe.
The company’s chairman and CEO, Jim Farley, said Ford’s new range of electric vehicles had generated “huge excitement and demand” and said it was setting up the industrial system to scale “rapidly”.
“Our Model e team has moved with speed, focus and creativity to secure the battery capacity and raw materials we need to deliver revolutionary electric vehicles to millions of customers.”
The multinational based in Dearborn (Michigan) plans to invest 50,000 million dollars (49,500 million euros at current exchange rates) in electric vehicles until 2026. The company’s intention is to achieve a joint operating margin of 10% for that year and the 8% only in the area of electric vehicles.
By 2030, more than half of the vehicles produced by the corporation worldwide will be electric models, while by 2050 the company’s forecast is to achieve carbon neutrality.
In Europe, the car manufacturer is working to be carbon neutral in its entire footprint of facilities, logistics and suppliers by 2035. In line with this objective, the Cologne factory will start manufacturing the first electric passenger car in 2023, which will be followed by a second electric model in mid-2024, with an estimate of manufacturing 200,000 units per year in this center.
Furthermore, Ford has confirmed that it has secured 100% of the annual battery cell capacity needed to support the manufacture of 600,000 electric vehicles. Thus, it has reached agreements with CATL for the supply of complete LFP battery packs and collaborates with LG Energy Solutions and SK On.
At the same time, the US company is also exploring cooperation with CATL to supply batteries for Ford in China, Europe and North America. The oval firm plans to locate and use 40 gigawatt hours of LFP capacity in North America by 2026.