Economy

Ford is considering own battery cell production | Financial

With global sales of electric cars on the rise, producing battery cells in-house is becoming much more attractive, said Jim Farley, Ford CEO at a conference call on the automotive industry hosted by Reuters news agency.

The Farley thus distances itself from its predecessor Jim Hackett. The former CEO told you last year that Ford was not considering taking battery cell production into its own hands, because he saw “no benefits”.

Invest billions

Meanwhile, many automakers, including Tesla and GM, are investing billions in their own battery cell manufacturing plants. They want to guarantee the supply of battery cells. Indeed, analysts often express doubts as to whether current battery cell suppliers will be able to keep up with the accelerated demand for electric cars until 2025.

Nevertheless, Ford boss Farley’s change of direction is remarkable. Ford’s electric vehicle production volume ambition is low compared to many competing brands. For example, Hyundai and GM have a short-term production target of one million electric cars per year and at Volkswagen that is even 3 million.

Tags

Related Articles

Back to top button
Close
Close