Ford Decides to Double Production Plan for EVs

Ford announced this week a plan to double its electric vehicle production.

The company originally planned to build 300,000 units by 2023, but has ramped that number up to 600,000. Additionally, the company has secured a semiconductor contract with GlobalFoundries to support the manufacturing plan.

Chief Executive Jim Farley tweeted his excitement for the plan, which is to become the second-largest EV producer in the world “within the next couple years.” Farley expects the Mustang Mach-E, F-150 Lightning, and E-Transit van to lead the company’s sales of EVs. He also hinted that the company has plans for additional electric models.

Our current EV lineup is wildly popular.

🐎#MustangMachE is selling on three continents ⚡️#F150Lightning has +160k reservations
🚚and E-Transit will be huge in Europe & N.America

Our job now is to meet the demand.

— Jim Farley (@jimfarley98) November 18, 2021

We aim to become the 2nd biggest EV producer within the next couple years.

Then as the huge investments we're making in EV and battery manufacturing come onstream and we rapidly expand our EV lineup, our ambition is for @Ford to become the biggest EV maker in the world.

— Jim Farley (@jimfarley98) November 18, 2021

While doubling production to 600,000 EVs is a strong commitment it represents just 10% of Ford’s current production. The company has said it hopes for EVs to make up 40% of sales by 2030.