Ford Counting On U.S.-Mined Lithium To Power Its EV Growth Plans – by David Blackmon (Forbes Magazine – July 25, 2022)

Management at Ford Motor Company continues to move aggressively to advance the company’s goals of converting its fleet to electric vehicles in the years to come. The Detroit Free Press reported last week that the company plans to lay off 8,000 of its 31,000 salaried workers as part of a plan to implement $3 billion in budget cuts to try to make its’ struggling EV business unit more financially viable.

The company has announced plans to produce 600,000 EVs by late 2023 and as many as 2 million globally by 2025. But the Ford’s EV sales for the first half of 2022 totaled to just around 23,000 units. While that is a significant rise from the same period during 2021, it is a long way from achieving such aggressive goals.

Still, Ford CEO Jim Farley remains bullish on Ford’s EV future. “Ford’s new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly,” Farley said in a statement on Thursday.

“Our Model e team has moved with speed, focus and creativity to secure the battery capacity and raw materials we need to deliver breakthrough EVs for millions of customers.”

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