Ford aspires to become second-largest electric vehicle manufacturer in the next two years

Ford is one of the most well-known names when it comes to manufacturing automobiles. While the manufacturer has ruled the world commuting on combustion engines, things are different for the manufacturer currently. The world is making a shift to a more sustainable tomorrow, and electric vehicles are a very important part of that shift. Being a prominent global car manufacturer, Ford was quick to understand this and its consequences.

Ford recently announced that it aims to become the world’s second-largest manufacturer of electric vehicles in the next two years. This goes without saying that Ford will have to put up a good fight against rival companies such as General Motors (GM) and Volkswagen. 

However, that is not to say this will be impossible, especially with sources claiming that Ford is targeting to boost its annual production capacity to 6,00,000 vehicles. Such ambitions are driven by the increasing demand for vehicles such as the F-150 Lightning, with a retail reservation reaching up to the staggering number of 2,00,000 units.       

Sources further claim that the brand is making extensive efforts to facilitate vertical integration of EV components, including the e-drive technology and power electronics. Additionally, Ford is now collaborating with five prominent internationally acclaimed battery suppliers such as CATL, LG Energy Solution, Panasonic, BYD, and SK On to develop and manufacture battery cells for its forthcoming electric vehicles.  

Ford is expected to produce 240 gigawatt-hours by the year 2030 while also reducing the cost of these batteries significantly. The cost reduction of battery cells will be made possible by leveraging different chemical compositions such as cell-to-pack structural batteries and cobalt-free lithium iron phosphate.    

The efforts being made by the car manufacturer indicate that they are very serious about keeping their commitment to achieving their desired goal. The company is working on many different technologies and chemical compositions that were not known by many earlier. In conclusion, this certainly indicates a move to a sustainable future that is always worth appreciation.

Also read: Ford puts an end to vehicle production in India