Ford is planning to introduce a new type of battery for certain electric vehicles in Europe and America, starting with the Mustang Mach-E this year, and the F-150 Lightning truck in 2024. The goal is to address the high production costs for electric vehicles, which stem from the use of expensive nickel and cobalt in traditional batteries. The new lithium iron phosphate (LFP) batteries have a different chemical composition and do not require nickel and cobalt, resulting in a more cost-effective alternative.
These batteries will eventually be manufactured at the BlueOval Battery Park Michigan, a newly constructed $3.5 billion US battery plant that will open in 2026. To prevent potential material shortages and reduce customer waiting times, Ford will provide both battery types, but not for the same vehicles. This aligns with Ford’s Ford+ initiative, which aims to produce 600,000 EVs worldwide in 2023 and 2 million by 2026.
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