VANCOUVER (miningweekly.com) – Auto manufacturers are ramping up strategies to cash in on the accelerating worldwide acceptance and demand for electric vehicles (EVs), prompting advice from research and consultancy group Wood Mackenzie for automakers to ‘get out their chequebooks’ and take stakes in mines or new mine projects to lock-in future supply.
WoodMac issued a statement on Tuesday, following news that Ford will boost its investment in EVs to $11-billion between 2015 and 2022 – a sharply higher figure than a previously announced target of $4.5-billion by 2020.
Ford also revealed plans to expand its electrified portfolio to include 40 electrified vehicles globally, including 16 full-battery EVs by 2022. It outlined plans to accelerate investment in EVs and sportd utility vehicles (SUVs).
Specifically, Ford reiterated that it was on track to deliver a full battery electric performance SUV that offers at least a 480 km range, for launch in 2020.
According to WoodMac director for metals markets Gavin Montgomery, Ford plans to utilise lithium/nickel/manganese/cobalt oxide (NMC) batteries in their vehicles, thrusting the spotlight on securing tight upstream supplies.