Ford Motor Co – Page 12

Ford Raises Prices of F-150 Lightning Electric Truck

Demand for electric vehicles has been far stronger than the supply of battery materials like lithium, nickel and cobalt.

The automaker said it had reached deals to acquire more battery packs in its push to produce 600,000 electric vehicles a year by the end of 2023.

A scarcity of semiconductors and raw materials held back production, but buyers remain enthusiastic.

The automaker sold 483,688 vehicles in the United States in the second quarter.

Tesla shifted to selling cars entirely online in 2019. Now, some established automakers, like Ford, are talking about taking a similar approach.

Regulators said 1 percent of the vehicles recalled could have the defect. The products affected include 1.7 million Escape S.U.V.s.

Automakers and technology companies say they are making driving safer, but verifying these claims is difficult.

The automaker said the move would further its electric-vehicle goals. It may also defuse tensions with the U.A.W. ahead of contract talks next year.

The General Motors chief says efficiencies, innovations and learning from mistakes will allow her company to become a leader in electric vehicles.

The electric-vehicle maker’s stock has fallen sharply after its initial public offering last year gave it a huge market value.