Ford, GM say they have secured enough battery materials to produce millions of EVs

Ford says it has secured enough materials and capacity to reach its targeted annual run rate of 600,000 EVs by late 2023 and more than 2 million by the end of 2026.

Meanwhile, GM says it now has binding agreements for enough battery raw materials to meet its goal of raising its annual North American EV production capacity to 1 million by 2025.

That would make both OEMs credible challengers to EV segment leader Tesla, which is expected to produce 1.4 million vehicles this year, in spite of its own supply chain issues.

See the full story here in Repairer Driven News

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