supplies of battery materialsMay 22 (Reuters) - Ford Motor Co (F.N) on Monday unveiled new supply deals for battery-grade lithium as the U.S. automaker aimed to meet its target of producing 2 million electric vehicles by 2026…North American automakers are racing to secure supplies of battery materials to boost EV output.
Ford’s deal with China’s CATL to build LFP batteries, which are cheaper, and can be charged more frequently with fewer degradation, will be key. However, working with a Chinese partner has not come without criticisms.
“It turns out that the [battery] processing is the most important thing for us,” Farley said. “We're going to build the batteries ourselves. So it's our factory, we're building the factory, it will be our workers in a plant. We're not going to import the batteries that Tesla has been doing.”
LFP. Now L deals are announced. Will there be a P deal?