Ford is looking to become the world’s second largest electric vehicle (EV) maker within the next two years – reaching a yearly production level of 600,000.
That’s according to a statement made by the Chief Operating Officer for North America, Lisa Drake, who stated the car manufacturer is looking to implement more ‘vertical integration’ into its way of working around EVs.
She also revealed that the company is looking to heavily reduce the cost of its EV battery cells to £60 per KW, similar to recent pledges made by Nissan, as both companies look to drive up EV adoption rates by making production and therefore purchase cheaper.
Both companies are investigating the use of cobalt-free technology to drop the cost and carbon footprint of producing lithium-ion batteries.
Ford will work alongside global battery builders to develop these cheaper cells for its future cars and is targeting 240GWh of capacity by 2030.
“We haven’t used ‘vertical integration’ in this industry in a long time – you’re going to hear it a lot more,” she said.