Jim Farley says Ford is remaking itself by cutting costs, raising quality and offering software, services and new vehicles that will make profit margins among the best in the industry.
electrical vehicle division, Ford Model e, according to a flurry of announcements Monday.
Ford will get more than 100,000 metric tons of lithium hydroxide from Albemarle, based in Charlotte, North Carolina. Compass Minerals International announced a multiyear deal to supply Ford with up to 40% of the battery-grade lithium carbonate coming from its project in Utah. EnergySource Minerals will supply the carmaker with lithium hydroxide from a new site in Imperial Valley, California, and Nemaska Lithium, a Canadian miner, will supply Ford with 13,000 tons of lithium hydroxide annually for 11 years.
Because the materials are coming from the U.S. and Canada, it ensures that Ford's electric vehicles will qualify forFord has split itself into three business units, Ford Blue, Ford Model e for electric vehicles and digital products, and Ford Pro, the company's commercial vehicle business. “I’m not here to tell you that we’re under valued,” Farley said Monday. “You make your own decision.”
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