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FORD TO PRODUCE 600,000 ELECTRIC VEHICLES BY 2023, GM SAYS 1 MILLION BY 2025

Resources Acquired, Now To Build

The automotive industry’s transition towards electrification is gaining traction as both Ford and GM have recently announced that they have secured enough resources to enable the two companies to ramp up electric vehicle (EV) production exponentially in the coming years.

Ford V General Motors: Locking In The EV Supply Chain

Ford has recently announced plans to produce 600,000 EVs by the end of 2023. The Dearborn-based automaker hopes to increase that number to two million by the end of 2026. After investing an additional $20 billion into EVs, bringing the total to $50 billion. The company has added lithium iron phosphate battery packs to its repertoire in order to produce these vehicles. This will join the set of nickel cobalt manganese battery packs the company already uses. The LiFePO battery pack will begin making its way into the North American Mach-E next year, with the Lightning starting to get them in early 2024.

Ford Mustang Mach-E GT
Image copyright Manoli Katakis, Muscle Cars & Trucks.

Meanwhile, General Motors announced a binding agreement for Cathode Active Material (CAM) supplied from LG Chem. This agreement will help GM meet its fast-growing EV production needs. CAM is a vital battery material consisting of components like processed nickel, lithium, and other materials representing about 40% of the cost of a battery cell. Through the long-term supply arrangement, LG Chem plans to supply more than 950,000 tons of CAM to GM beginning the second half of 2022 through 2030, which is enough for approximately 5 million units of EV production.

GM has now contractually secured all battery raw materials to support its goal of 1 million units of EV capacity in North America by the end of 2025. On the other hand, Ford’s 600,000 units by 2023 goal will include vehicles within the European market and North America. Either way, the forecast looks to hold a lot of EVs from both companies within the coming years. Putting them on track to reach their goals for an electric future.

Silverado Ev Early Sketch

Written by Zac Quinn

Zac's love for cars started at a young age, after seeing the popular Eleanor from Gone In 60 Seconds. From there, fascination and enthusiasm blossomed and to this day the Ford Mustang remains a favorite. His first job started out detailing cars, but also provided the opportunity to work on restoration including an 1968 Ford Mustang, Ford Firebird, and a C3 Corvette, though he left that job before further work and experience could be had. From there, he was a detailer at a car dealership before quitting that job to try and finish college.

Much of his free time while studying was spent watching YouTube videos regarding new cars, or off-roading. 4WD247 is a personal favorite channel which rekindled a dying flame in car enthusiasm, now tailored towards trucks and SUVs and the fun that can be had building up an overlanding rig, and going on adventures, though, that chapter remains unwritten for the time being.

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