Ford secures key mineral deals for both gas and electric vehicles.
Originally Published 2 years ago — by Fox Business
Ford has signed an agreement with Albemarle Energy Storage for supplies of enough lithium hydroxide to support the manufacture of batteries for three million electric vehicles between 2026 and 2030. During the automaker's Capital Markets Day event, Ford executives discussed their plans to efficiently build profitable electric vehicles, but also stressed that the company's internal combustion engine business has a bright future and remains primed for growth. Ford Blue, the automaker's division dedicated to internal combustion engine and hybrid models, plans to increase production of its models by 160,000 vehicles in the next 10 months and aims for an EBIT margin above 10% by 2026.