Ford to increase electric vehicle production to 600K

Ford Motor Company’s Chief Executive Officer Jim Farley has announced that the company was planning to increase its electric vehicle (EV) production to 600,000 cars by 2023.

“The demand is so much higher than we expected,” Farley said in a report by Automotive News , according to CNBC. “It’s a really new experience for this big company, trying to be agile. We had to approach it very differently than we’ve done capacity planning.”

The increased EV production would affect its E-Transit, Mustang Mach-E and F-150 Lightning EVs, according to the Automotive News report, CNBC reported. Compared to what Ford originally anticipated producing over the next 24 months, the Ford CEO said the move would double those numbers.

Additionally, over 80 percent of those who are reservation holders for the F-150 Lightning EV will soon become converted to owners, Farley said.

The EV production news comes amid a push by President Joe Biden to have half of vehicle sales be electric by 2030.

 

Following the announcement, Ford had said at the time it anticipated that between 40 and 50 percent of its vehicle sales would be electric by then.

In an effort to ramp up its production, Ford earlier this year signaled it would be investing in more resources in Kentucky and Tennessee to up its EV production.

Ford announced in September that they, along with South Korea’s SK Innovation, would be investing over $11 billion dollars to go toward a pickup truck factory and three new battery plants. Ford said that 11,000 jobs would be created for those two states.

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