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Ford to Increase EV Production to 600K in 2023

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Nov. 19, 2021—Ford on Thursday announced plans to increase its production capacity of electric vehicles to 600,000 by 2023.

According to a report from CNBC, Ford CEO Jim Farley says the increase would double what the company initially expected to produce in the next 24 months. Should Ford reach that many units, Farley said the automaker would be the second-largest U.S. EV manufacturer behind Tesla.

“The demand is so much higher than we expected,” Farley said. “It’s a really new experience for this big company, trying to be agile. We had to approach it very differently than we’ve done capacity planning.”

Farley says a large part of that increase will come from the company's F-150 Lightning electric pickup—the Ford executive says he hopes the company is able to turn more than 80 percent of the 160,000 reservation holders for the new truck into vehicle owners. 

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