Ford CEO Jim Farley poses with the Ford F-150 Lightning pickup truck in Dearborn, Michigan, May 19, 2021.
Rebecca Cook | Reuters
WAYNE, Mich. – Ford Motor CEO Jim Farley does now not be expecting the prices of uncooked fabrics for the corporate’s electrical cars to ease within the close to long run, marking the most recent sign that automakers will proceed mountaineering costs for his or her new EVs.
“I don’t believe there may be going to be a lot reduction on lithium, cobalt and nickel anytime quickly,” Farley informed journalists Wednesday all over an tournament on the automaker’s Michigan Assembly Plant.
Farley’s feedback come an afternoon after the Detroit automaker introduced it will be
Prices of all lithium, cobalt and nickel have risen sharply over the last yr as call for from battery makers has outpaced miners’ efforts to extend provide.
Farley stated the fast-rising prices of the minerals utilized in its present lithium-ion batteries are why Ford plans to provide lower-cost lithium iron phosphate, or LFP, batteries in cars such because the F-150 Lightning and Mustang Mach-E crossover.
“I don’t believe we must be assured in every other results, than an build up in costs,” he stated. That’s why we predict LFP generation is important … We need to make those reasonably priced.”
Last month, Ford stated it’ll
Ford additionally has invested in Colorado-based battery startup
Solid Power stated Tuesday that it is on the right track to ship prototype batteries to Ford and
Source Link: https://www.cnbc.com/2022/08/10/ford-ceo-doesnt-expect-electric-vehicle-battery-costs-to-drop-soon.html