The automaker’s optimism stems from increasing demand for its next new EV, the Ford F-150 Lightning pickup, with retail reservations approaching 200,000, Lisa Drake, chief operating officer of Ford North America, said.
Reuters reported on Wednesday that Ford likely would be vying with Stellantis for third place in the EV race by 2025, behind Tesla and the Volkswagen Group, based on production forecast data provided by AutoForecast Solutions.
Speaking at an investor conference, Drake said Ford is working to vertically integrate more EV components, including power electronics and e-drives, at existing facilities that build parts for combustion vehicles – a modern take on founder Henry Ford’s pioneering work in building many of his own components.