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Ford partners with major Chinese company to meet electric vehicle production goals, will reportedly cut up to 8,000 jobs

Source: dnyuz.com dnyuz.com
News Snapshot:

Ford Motor Co. announced Thursday it has secured enough battery supplies to build electric vehicles at a rate of 600,000 per year by the end of 2023 — and it is relying on a major Chinese company to meet that target. The Michigan-based car manufacturer has entered into an agreement with Contemporary Amperex Technology, a Chinese battery maker, to produce 2 million EVs per year by 2026. “Ford’s new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly,” Ford CEO Jim Farley said in a statement ….

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