Ford Motor Co. on Thursday said it plans to add a new battery cell chemistry to its electric vehicle portfolio to increase capacity and make them cheaper to build.
"Ford's new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly," CEO Jim Farley said in a statement."Our Model e team has moved with speed, focus and creativity to secure the battery capacity and raw materials we need to deliver breakthrough EVs for millions of customers."
Ford said it plans to localize and use 40 gigawatt-hours of lithium iron phosphate cell capacity in North America starting in 2026. It also signed a nonbinding memorandum of understanding with CATL to"explore cooperation" for supplying batteries across North America and overseas markets.