Like most established automakers, Ford Motors is looking to electrify its vehicle line-ups and carve a section of the nascent electric vehicle (“EV”) market for itself over the next couple of decades. Ford has already released the award-winning Mustang Mach-E and is currently developing an electrified version of its bestselling F-150 pickup truck. Additionally, the Dearborn, Michigan-based automaker has invested $500 million in electric vehicle startup Rivian for more than 10% ownership. According to a Ford executive, the company is now looking to significantly ramp up EV production in the next couple of years.
Ford plans on increasing electric vehicle production to an annual capacity of almost 600,000 within the next two years, says CEO Jim Farley. This would make it the world’s largest U.S.-based electric car maker behind Tesla, which has an annual installed production capacity of more than a million electric cars. Ramping up production to 600,000 units per year would also double the number of electric vehicles Ford was initially planning on building…
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