As part of its mission to make electric vehicles more accessible to the masses, Ford has announced that it will launch lithium-iron-phosphate (LFP) batteries for the Mustang Mach-E in Europe this year. Ford also revealed that it will invest $3.5 billion to open its first LFP battery plant in the United States in 2026.
Ford can better meet the needs of its customers and increase demand by diversifying and localizing the supply chain for the batteries it uses in the countries where it manufactures electric vehicles. As part of its Ford+ initiative, Ford aims to increase the annual global production of electric vehicles from 400,000 this year to 600,000 in 2026.
The beginning of LFP batteries will allow Ford to swiftly increase the manufacturing of electric vehicles, expanding the company's product offerings to new customers.
The executive chairman of Ford, Bill Ford, has stated the company's dedication to being at the vanguard of the electric car revolution by investing in the technology and jobs necessary to do so.
Ford consumers will be able to select an electric vehicle with tailored performance characteristics thanks to the availability of LFP as a second battery chemistry choice, joining nickel-cobalt-manganese (NCM).
As they use fewer expensive, rare materials, LFP batteries have a longer lifespan and can withstand more frequent and faster charging. Ford will be able to provide cheaper electric vehicle options to customers thanks to this battery, which can be manufactured at a reduced cost. Some of Ford's upcoming all-electric cars and electric vans will include these LFP batteries.
The demand for Ford's electric vehicles has skyrocketed. "With the increased production of LFP and NCM batteries, Ford is keeping its word, and soon customers will be able to enjoy the benefits of Ford's electric vehicles, which incorporate innovative technologies and environmentally friendly battery solutions while also becoming more affordable over time," remarked Ford CEO and President Jim Farley.
Ford plans to introduce LFP batteries in the Mustang Mach-E this year before opening the new battery facility in Marshall, Michigan, USA, in 2024 for the Ford F-150 Lightning.
LFP battery technology is consistent with Ford's plan to establish an electric vehicle supply chain to support the company's sustainability and human rights commitments. It helps minimize dependency on essential elements like nickel and cobalt.
Ford has promised to invest over $50 billion in electric vehicles worldwide by 2026, and the company has also declared its intention to have a carbon-neutral footprint for its cars, logistics, and supply chain worldwide by the year 2050. By 2035, the firm plans to have a carbon-neutral footprint in Europe across all of its manufacturing, shipping, and supplier operations. @via Corporate Ford.
