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Ford CEO Jim Farley Says Company Will Double EV Production By 2024

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Ford has invested heavily in EV development and production over past several months as it prepares to add the 2022 Ford F-150 Lightning and 2022 Ford E-Transit to its existing all-electric lineup, which currently consists of the Ford Mustang Mach-E. It’s clear that FoMoCo is betting big on an electric future, and now, Ford CEO Jim Farley has revealed that the automaker is doubling its planned global EV production between now and 2024, according to Automotive News.

This means Ford is aiming to produce 600,000 electric vehicles per year, globally, within the next two years, which is a direct response to consumer interest in the automaker’s existing and forthcoming EVs. “The demand is so much higher than we expected,” Farley said. Originally, Ford intended to produce 300,000 EVs annually by that same date. Previously, he automaker said that it would produce 600,000 EVs per year built on Volkswagen’s MEB platform by 2028 as part of its partnership with the German automaker. However, it’s currently unclear if Farley’s statement means that Ford intends to produce more MEB-based vehicles in Europe than previously expected.

Ford has secured 160,000 reservations for the F-150 Lightning thus far – which prompted it to recently double its planned production of the all-electric pickup – as well as more than 24,000 reservations for the E-Transit. The F-150 Lighting recently entered its second phase of production ahead of its launch next spring, while the E-Transit is currently participating in a pilot program in both the U.S. and Europe.

More Ford EVs will join the Mach-E, F-150 Lightning, E-Transit, and MEB-based vehicles in the coming years, including a Ford Explorer EV that Jim Farley recently confirmed is in development, with an expected launch date of 2023, as well as a possible Bronco EV. For now, Ford’s EV plans are focused on the automaker’s “Icons,” as well as vehicles with a gross vehicle weight rating (GVWR) of under 8,500 pounds.

We’ll have more on Ford’s electrification plans soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

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Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Stephen Ketterer

    EVs are all HYPE.

    Reply
    1. NCEcoBoost

      Agree. But the fashionistas love ’em. Until the next big thing comes along.

      Reply
  2. NCEcoBoost

    And most of those retail units will sit on dealer lots, unsold, until the incentives get to 50%. Or close. Absurd.

    Reply

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