Ford to produce own EV battery in 2025

Ford Motor should be selling enough electric vehicles in North America to produce its own battery cells domestically by 2025, an executive with the automaker told CNBC. The timeline is the most detailed Ford has given for EV battery production, which Wall Street is closely watching, and its a reversal in the company’s strategy under former CEO Jim Hackett. Producing battery cells internally is expected to be key for automakers to cut costs of EVs and secure sourcing for an expected surge in demand this decade.