Ford touts ample supply deals to hit electric vehicle goals

DETROIT (AP) — Ford says it has contracts to deliver enough batteries to produce electric vehicles at a rate of 600,000 globally per year by late in 2023. The company says Thursday that Contemporary Amperex Technology Co. of China will supply new lithium-iron phosphate batteries starting next year. The deal is in addition to a contract with SK Innovation of Korea that includes building batteries in a joint venture at plants to be built in Kentucky and Tennessee. Ford also is getting batteries from LG Energy Solution of Korea. Ford says in a statement that it plans for half of its global production to be electric vehicles by 2030.