Ford On Track To Reach Targeted Annual Production Run Rate Of Over 2 Mln EVs By End Of 2026

(RTTNews) - In its 2023 Integrated Sustainability and Financial Report released on Monday, Ford Motor Co. (F) has revealed details of its progress on its commitment to create a more sustainable, inclusive and equitable transportation future.

The new data shows that Ford is on track to achieve carbon neutrality no later than 2050 across its vehicles, operations and supply chain.

The report also highlights progress on initiatives aligned with the company's commitment to source raw materials that are responsibly produced and make its EV and battery supply chain more transparent.

Ford said it is dedicating more than $50 billion from 2022 through 2026 globally to develop and manufacture electric vehicles and batteries.

The company is on the path to reach its targeted annual production run rate of 600,000 EVs by the end of 2023 and more than 2 million by the end of 2026. By 2030, half of Ford's global vehicle sales volume is expected to be electric.

Ford has reduced Scopes 1 and 2 emissions by 35.4 percent since 2017, which accounts for direct emissions from its operations and indirect emissions from energy purchases.

Ford invested more than $26 million in facility upgrades to improve energy efficiency and conservation across its facilities and manufacturing processes, helping the company achieve a 40 percent reduction in absolute manufacturing greenhouse gas emissions from 2017.