Electrification of vehicles is in the mouths of everyone, and Ford’s new battery technology plays a role in the company going electric. With a budget of over $50 billion, Ford has the vision to improve its EV output by 2023. The new technology is a lithium iron phosphate battery pack that’d feature in some of the company’s coming EVs.
Currently, the American company has set up a manufacturing plant in Turkey, which it’d use to achieve its EV dreams. There are also plans to set up more plants within Europe to operate under the EU law of origin. The battery that these plants roll out will help cut the company’s manufacturing cost.
The company plans to produce over 600,000 EVs yearly by the end of 2023. Ford’s new battery technology will play a strong role here. This battery will be on many of the EVs the company will produce, while batteries from other manufacturers might feature on the rest. Considering the number of EVs Ford made in 2021 (27,140), the 600,000 target looks daunting. In addition to this is the job cut that is certain to plague the company’s workforce. We will love to see how well Ford will achieve its goal by 2023.
Among the said 600,000 units that the company aims to produce 270,000 will be Mach-Es for the American, Chinese, and European markets. The company’s popular electric truck F-150 Lightning will have a cut of 150,000 units. The remaining will be split between vans and SUVs that the company is yet to launch. Most of these vehicles will use the new lithium iron battery that ford is working to mass produce.