In Reversal, Ford CEO Says Company Exploring EV Battery Production
A new managerial regime at Ford (NYSE: F) is signaling a new attitude in the carmaker's relationship with electric vehicle (EV) batteries. At the Reuters Automotive Summit, recently installed CEO Jim Farley revealed that the company is now considering producing its own battery cells for the increasingly popular vehicles.
"We are discussing [battery] cell manufacturing," he said bluntly in his remarks at the conference, which concluded on Friday. "I think that's natural as [EV] volume grows."
This is in stark contrast to the stance of Farley's predecessor, Jim Hackett. In July, less than three months before he stepped down from his position, Hackett stated that there was "no advantage" to Ford producing proprietary EV batteries.
Source Fool.com
