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Ford could produce its own EV battery cells by 2025, executive says

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People visit Ford’s all-electric SUV Mustang Mach-E at the 2019 Los Angeles Auto Show in Los Angeles, the United States, Nov. 22, 2019.

Xinhua via Getty Images

DETROIT – Ford Motor should be selling enough electric vehicles in North America to produce its own battery cells domestically by 2025, an executive with the automaker told CNBC.

The timeline is the most detailed Ford has given for EV battery production, which Wall Street is closely watching, and its a reversal in the company’s strategy under former CEO Jim Hackett. Producing battery cells internally is expected to be key for automakers to cut costs of EVs and secure sourcing for an expected surge in demand this decade.

“We don’t…



Source cnbc.com

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