The Ford company is on a path to achieving 600,000 EVs sold by 2023
Building on solid demand for its new electric vehicles, Ford announced a series of raw material sourcing initiatives for battery production that illustrate a clear path to achieving its goal of selling 600,000 electric cars by the end of 2023 and over two million by the end of 2026. The company detailed its global plans for the portfolio of vehicles that support these production goals as part of its Ford+ plan. Ford expects the annual growth rate for electric vehicles to exceed 90% by 2026, twice the global industry estimates. "Ford's new range of electric cars has developed tremendous excitement and demand, and we are now implementing the industrial system to scale rapidly," said Jim Farley, Ford president and CEO and president of Ford Model e. "Our Model e team has moved quickly, focus and creativity to secure the batteries and basic materials we need to provide innovative electric vehicles to millions of customers." Ford intends to fund more than $50 b