Stefan Mileschin

Ford is refining its plans to expand EV production, and it will partly lean on new battery materials to achieve those goals. The automaker now expects to hit a global production rate of 600,000 EVs per year by late 2023 thanks in part to lithium iron phosphate battery packs in some of its vehicles, starting with Mustang Mach-Es sold in North America (in 2023) and F-150 Lightnings (in early 2024). The chemistry will expand Ford's capacity, allow for "many years" of use with little range loss, cut manufacturing costs and reduce the dependence on shortage-prone materials like nickel.

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