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5/3, 8:13 PM (Source: TeleTrader)
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Ford to produce battery cells for electric vehicles by 2025

Ford Motor will start producing its own battery cells domestically by 2025 to supply the electric vehicles produced by the automaker in North America, the company's executive Hau Thai-Tang said on Monday.

"We don't have to scale today to justify our own dedicated battery plant. But by 2025, as we bring on the F-150, the E-Transit and another battery electric vehicle that we've announced, we'll have enough volume in North America to justify our own plant," Hau Thai-Tang said.

Earlier, Ford announced experiencing production issues due to chip shortages and closed its plant in Cologne, Germany. After the news arrival Ford's stocks were trading 0.30% above the flatline to sell for $11.58 per share at 2;11 pm ET.

Breaking the News / LH