The Ford F-150 Lightning is shaping up to be a hit and the company is fully embracing electric vehicles as they have announced plans to build batteries in the United States.
As part of the effort, Ford has signed a memorandum of understanding with SK Innovation to create a new joint venture known as BlueOvalSK.
Production is slated to begin mid-decade and BlueOvalSK will be capable of producing approximately 60 GWh annually in traction battery cells and array modules, with the potential to expand. The latter is important as the company noted their global electric vehicle plan calls for at least 240 GWh of battery cell capacity by 2030, with approximately 140 GWh required in North America.
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Ford didn’t go into many specifics, but said the joint venture will create next-generation cells and arrays which will be used to power a variety of upcoming electric vehicles. Ford North America chief operating officer, Lisa Drake, added “Ford and SKI will jointly develop and industrialize battery cells at scale that are tailored to deliver optimum performance and value for our Ford and Lincoln customers.” She went on to suggest the upcoming batteries will be more affordable and offer long ranges than those available today.
Furthermore, Ford said they plan to “lead the electric vehicle revolution – including by delivering fifth-generation lithium-ion batteries as well as preparing for the transition to solid-state batteries, which promise longer range, lower cost and safer EVs for customers.”
Ford CEO Jim Farley added, “This MoU [memorandum of understanding] is just the start; it’s a key part of our plan to vertically integrate key capabilities that will differentiate Ford far into the future. We will not cede our future to anyone else.”
