In March this year, Ford increased its planned spending through 2026 to $50 billion, up from its previous target of $30 billion, and reorganized its operations into separate units, with the Ford Model E and the Ford Blue, respectively.
The Dearborn, Michigan-based company also said at the time that its electric vehicle business would not be profitable until new generation models Production will begin in 2025.
As part of its drive to increase capacity, the giant is adding to its portfolio the lithium iron phosphate (LFP) cell chemistry for car batteries, with him nickel-cobalt-manganese (NCM). In this line, the supply comes directly from raw materials, announcing agreements to acquire most of the nickel needed until 2026.
On the other hand, CATL will provide complete LFP battery packs for Mustang Mach-E crossovers for North America starting next year, as well as for F-150 Lightning pickups in early 2024.
It also closed lithium contracts through agreements with Rio Tinto, exploring a “significant” purchase agreement of lithium from the mining company’s Rincon project in Argentina, Ford said. This is part of a multimetal deal that takes advantage of aluminum business and includes a possible opportunity with copper.
Source: Ambito
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