Ford Plans To Produce 600,000 EVs a Year By the End of 2023

Ford CEO Jim Farley announced that the automaker is planning to produce 600,000 electric vehicles per year by the end of 2023, "which will double the number of EVs it originally intended to manufacture," notes Engadget. From the report: According to Automotive News, production will be spread across the Mustang Mach-E, F-150 Lightning and E-Transit. Ford's current EV lineup is wildly popular, Farley said, and the demand is "so much higher" than the company expected. The Mustang Mach-E is selling on three continents, while the Ford F-150 Lightning has been popular from the time it was announced. Ford received 100,000 reservations within three weeks after it was unveiled, and that number's now up to 160,000 -- all placed with a $100 refundable deposit. Due to the high demand for the F-150, Ford previously decided to invest $250 million to boost its production, creating 450 new jobs to help it make 80,000 trucks a year. It's unclear how much that target would change now that the company is doubling its manufacturing goal.

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