Ford will this 12 months introduce lithium iron phosphate (LFP) batteries to the Mustang Mach-E line-up in Europe, as a part of the corporate’s dedication to creating EVs extra inexpensive and accessible to clients.
Ford has additionally announced it’s investing $3.5 billion to construct the primary automaker-backed LFP battery plant within the U.S. – referred to as BlueOval Battery Park Michigan – which is able to open in 2026.
Diversifying and localising Ford’s battery provide chain within the areas the place it builds EVs will enhance availability and affordability for patrons whereas strengthening shopper demand. Ford is working to ship an annual run charge of 600,000 electrical autos globally by the top of this 12 months and a pair of million globally by the top of 2026 as a part of its Ford+ plan.
As the corporate quickly scales EV manufacturing, introducing LFP batteries permits Ford to supply extra electrical autos and supply extra selections to new EV clients and helps help the corporate’s purpose of an eight p.c EBIT margin for Mannequin e by 2026.
“We’re dedicated to main the electrical automobile revolution, and which means investing within the know-how and jobs that can preserve us on the slicing fringe of this world transformation in our business,” stated Invoice Ford, Ford govt chair.
LFP battery chemistry to profit Ford clients
Providing LFP as a second battery chemistry – along with nickel cobalt manganese (NCM) – permits Ford clients to decide on an electrical automobile with distinctive battery efficiency traits most aligned with their wants.
LFP batteries are very sturdy and tolerate extra frequent and quicker charging whereas utilizing fewer high-demand, high-cost supplies. This lower-cost battery, at scale, will assist Ford comprise and even additional cut back EV costs for patrons. These LFP batteries will energy quite a lot of inexpensive, next-generation Ford EV passenger autos and vehicles beneath improvement.
“Ford’s electrical automobile line-up has generated large demand. We’re delivering on our commitments as we scale LFP and NCM batteries and 1000’s, and shortly thousands and thousands, of shoppers will start to reap the advantages of Ford EVs with cutting-edge, sturdy battery applied sciences which are rising extra inexpensive over time,” stated Jim Farley, Ford president and CEO.
Even earlier than the brand new battery plant opens in Marshall, Michigan, U.S., Ford will introduce LFP batteries on Mustang Mach-E this 12 months and F-150 Lightning in 2024 in key world markets, with a purpose of decreasing wait instances for patrons.
LFP battery know-how additionally helps cut back reliance on important minerals comparable to nickel and cobalt, and is in keeping with Ford’s work to create an EV provide chain that upholds its commitments to sustainability and human rights.
Ford has dedicated to speculate over $50 billion in electrical autos globally by 2026 and can be already dedicated to attaining carbon neutrality globally throughout its autos, operations and provide chain by 2050. The corporate is concentrating on zero emissions for all automobile gross sales in Europe and carbon neutrality throughout its European footprint of amenities, logistics and suppliers by 2035
