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Ford Secures Batteries to Build 600,000 EVs a Year by 2023

  • Automaker sees EV demand growing at more than 90% annually
  • Ford to buy packs from China’s CATL, world’s top battery maker
Bloomberg business news
Ford CFO on EV Plans, Supply Chain, Battery Materials
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Ford Motor Co. says it has secured enough battery supply to build more than half a million electric vehicles annually by late next year, a quantum leap above the 27,140 battery-powered cars it sold in the US last year.

The automaker has signed contracts with suppliers representing 60 gigawatt hours of annual battery capacity, enough to build 600,000 EVs a year, it said in a statement Thursday. Those suppliers include China’s Contemporary Amperex Technology Co. Ltd., or CATL, as Bloomberg previously reported.