Ford Shows Renewed Interest in Getting into EV Batteries

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While companies like Tesla are known for their electric cars, they’re also regarded for their advancements in electric vehicle battery technology. While other auto manufacturers are beginning to compete with them in the auto market, very few have signaled that they plan to also start producing their own batteries as well. However, in a new reversal, Ford is signaling that they may be interested in doing just that.

On Friday, Ford’s new CEO Jim Farley said that the company was “absolutely” interested in the idea of producing their own EV batteries for their vehicles, just like Tesla and General Motors. These comments come as a reversal of those from Farley’s predecessor, Jim Hackett. Back in July, Hackett told investors that he felt Ford had seen “no advantage” in producing their own batteries instead of just buying them from a third-party. Farley replaced Hackett back on October 1st.

Farley has said that the idea is something the company is “discussing…as a team”, and that they think “it’s a natural time now because our volume is really growing.” The idea is also an appealing one to help offset expected factory job losses, as the production of electric vehicles tends to require less workers than conventional vehicles. However, no official plans have been finalized as of yet.

Ford, much like other auto manufacturers, is investing very heavily in their electric vehicle departments. In the coming weeks, the company is set to release an all-electric crossover known as the Mustang Mach E. Ford also has plans to release an all-electric version of their Transit commercial van next year, and perhaps most ambitiously, an all-electric version of their flagship F-150 truck in 2022. Ford has been focusing especially hard on their EV F-150, hoping to convey to potential buyers that the truck will retain all of the features and abilities it is known for in a cheaper, cleaner package.