ford got into Canada secured the long-term supply of the battery raw material lithium for the construction of e-cars. The second-largest US automaker announced on Monday that a contract had been concluded with the company Nemaska Lithium for the supply of lithium products, which also included lithium hydroxide, which is important for batteries. With the agreement, Ford CEO Jim Farley (60) wants to underpin his plan to increase production of battery-powered cars to two million units per year by the end of 2026.
Earlier this year, the US auto giant joined PT Vale and Zhejiang Huayou Cobalt for a $4.5 billion nickel processing plant in Indonesia.
Other car manufacturers are also currently signing contracts to secure their supply of raw materials in Canada. Volkswagen, for example, wants to build its largest battery cell plant there
. The group wants to grow in North America. Canada specifically offers cooperation opportunities for other value-added fields, raw materials and renewable energies, the VW boss explained Oliver Blume
(54) the decision in the mm interview. The European-American StellantisThe group has similar plans, but is currently in dispute with the Canadian government over subsidies.
Farley backs ambitious electrical plans with contracts
Ford’s partner Nemaska Lithium is equally owned by the Quebec Province Economic Development Corporation and US group Livent. With the announcement of the agreement on the occasion of its investor day, Ford wants to dispel investors’ doubts about its ambitious electrical plans.
On this occasion, the group also reaffirmed the goal of adjusted earnings before interest and taxes for this year between nine and eleven billion dollars. The cash inflow (cash flow) should be at six billion dollars. Ford continues to assume that its electric car division will be deep in the red this year.