Ford’s CEO says This New Battery Could Destroy The Whole EV Industry
Ford’s CEO says This New Battery Could Destroy The Whole EV Industry
The electric vehicle (EV) industry is packed with stiff competition, and Ford isn’t planning to sit around and get run over. Not if its CEO has something to say about it.
The man in charge has disclosed some information regarding a new battery for some of the carmaker’s models and has claimed it will destroy the entire EV industry.
Keep watching this video to get the full scoop!
What You Need To Know
According to Ford CEO Jim Farley, the auto giant plans to offer iron phosphate battery choices for the Mustang Mach-E and F-150 Lightning.
This is all in a bid to help the company reach its goal of producing 2 million electric vehicles annually by late 2026. And this could pose a strong threat to Tesla, which is arguably the biggest EV maker in the world.
Ford is already talking about where it will get the battery production capacity and basic raw materials to power all of those electric vehicles.
Ford anticipates having a sufficient battery supply by late 2023 to facilitate the assembly of 270,000 Mustang Mach-Es, 150,000 Transit EVs, 150,000 F-150 Lightning, and 30,000 units of a mysterious all-new midsize SUV planned for introduction in Europe.
What Ford didn’t say was that the Ford Blue division, which is now in charge of the company’s legacy industries powered by internal combustion engines, is going to lay off as many as 8,000 workers in the near future.
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