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Ford aims to be world’s #2 electric vehicle maker within two years

by Mike Robinson

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© Reuters. FILEPHOTO: A Ford Motor Company employee walks towards work in the wake of an announcement that the firm would build electric vehicles in Cologne, Germany on February 17, 2021. Oliver Berg/Pool via REUTERS

(Reuters) – Ford Motor (NYSE) Co plans to become the second-largest manufacturer of electric vehicles in two years. The company has an annual capacity for nearly 600,000. A top executive stated Friday.

According to Lisa Drake (chief operating officer at Ford North America), the Ford F-150 Lightning pickup is driving optimism. Retail reservations are now close to 200,000.

Drake spoke at an investor conference and stated that Ford has partnered with five international battery suppliers in order to produce and develop future EVs. These are SK On (OTC), LG Energy Solution and CATL.

Drake indicated that Ford will reduce the cost of EV battery cells to $80 per kilowatthour at the pack level. Drake claimed this “well before” the end of the decade.

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