Ford Motor Co. unveiled a bunch of deals and agreements the auto giant says will ensure it has the batteries and raw materials to support rapid growth of electric vehicle production, Ben writes.
As automakers and policymakers plan for the EV transition and boost investments, the ability to source supplies is becoming an intense geopolitical competition — and a logistical knot.
Ford said its battery chemistry and contracting will enable enough batteries for an annualized production rate of 600,000 EVs by late 2023 and 70% of what's needed for 2 million-plus by 2026.