Beautiful Virgin Islands

Thursday, Feb 05, 2026

Ford CEO reveals EV reality: America 'cannot continue to import' batteries, earth minerals

Ford CEO reveals EV reality: America 'cannot continue to import' batteries, earth minerals

Ford builds EV plant in Tennessee despite $3B profit loss expectation for 2023
While American consumers and politicians seem to remain split on whether to go pedal-to-the-metal on electric vehicle (EV) production, Ford’s CEO has shared a critical message to those who want them to rule the roads sooner than later.

"No one makes more full-size trucks than we do in America. We have to on-shore this stuff," Ford Motor Company president and CEO Jim Farley told "Fox & Friends" co-host Brian Kilmeade on Friday. "We have to have mines and processing to build a digital economy here in the U.S. We cannot continue to import batteries and rare earth from overseas. We have to move it to America."

"We're willing to invest," Farley continued, "but we have to have people in partnership with government that's going to improve mines, improve processing. These sites are really important. We can build all the plants, but what's the good if we're importing batteries?"

The CEO appeared on Fox News from Ford’s newest EV plant just outside Memphis, Tennessee, to discuss the company’s latest investment in the American economy as well as ongoing improvements within the EV market.

On Thursday, the automaker announced it's expecting a $3 billion loss due to Model e investments geared to rapidly boost production of electric vehicles to an annual rate of 600,000 globally by the end of 2023 and two million in 2026.

"As everyone knows, EV startups lose money while they invest in capabilities, develop knowledge, build volume and gain share," Ford CFO John Lawler told media ahead of an investor call Thursday.

Model e reportedly lost $2.1 billion in 2022 and its cumulative 2021 through 2023 loss is projected at $6 billion.

Earth minerals like nickel, lithium and cobalt are essential for building EVs and their batteries, but recently, mineral shortages and closures of domestic mines could threaten the U.S. auto industry’s ability to produce enough EVs by the Biden administration’s 2035 goal.

Farley echoed Lawler’s sentiments that Ford’s electric vehicle division is still in its "startup" phase, where companies "invest to build plants like this or develop the new vehicles before you scale."

According to its CEO, Ford has "learned a lot" about the EV market and engineering with their first generation of electric cars.

"The key is scaling and getting the manufacturing facility more efficient. But we make all of our full-sized trucks in America, and we're going to bet on this new full-size electric Ford, and it's going to be built here in Tennessee, and we're going to continue to bet on America," Farley explained. "So we're in investment mode, but that's what you have to do if you want to build a new business."

Once completed and open for business, Ford’s Tennessee EV plant expects to create 6,000 new jobs and generate $5.6 billion, the CEO noted. The all-new, all-electric truck will be equipped with updatable software similar to smartphones – a technological advancement not previously featured in any of their EVs.

"This is a feel-good story. This is us investing in America," Farley said. "And we're building a brand-new plant for a brand new big truck."

"We think we're going to be able to deliver technology so on a sunny day on the highway, you're going to be able to go to sleep in your Ford, or do something else," the CEO continued. "So this would be the first Ford that will have partial autonomy that's going to give Americans time back. And who doesn't want more time?"
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
Tech Mega-Donors Power Trump-Aligned Fundraising Surge to $429 Million Ahead of 2026 Midterms
UK Pharma Watchdog Rules Sanofi Breached Industry Code With RSV Vaccine Claims Against Pfizer
Melania Documentary Opens Modestly in UK with Mixed Global Box Office Performance
Starmer Arrives in Shanghai to Promote British Trade and Investment
Harry Styles, Anthony Joshua and Premier League Stars Among UK’s Top Taxpayers
New Epstein Files Include Images of Former Prince Andrew Kneeling Over Unidentified Woman
Starmer Urges Former Prince Andrew to Testify Before US Congress About Epstein Ties
Starmer Extends Invitation to Japan’s Prime Minister After Strategic Tokyo Talks
Skupski and Harrison Clinch Australian Open Men’s Doubles Title in Melbourne
China Lifts Sanctions on British MPs and Peers After Starmer Xi Talks in Beijing
AstraZeneca Announces £11bn China Investment After Scaling Back UK Expansion Plans
Starmer and Xi Forge Warming UK-China Ties in Beijing Amid Strategic Reset
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
Starmer Seeks Economic Gains From China Visit While Navigating US Diplomatic Sensitivities
Starmer Says China Visit Will Deliver Economic Benefits as He Prepares to Meet Xi Jinping
UK Prime Minister Starmer Arrives in China to Bolster Trade and Warn Firms of Strategic Opportunities
The AI Hiring Doom Loop — Algorithmic Recruiting Filters Out Top Talent and Rewards Average or Fake Candidates
UK Banks Pledge £11 Billion Lending Package to Help Firms Expand Overseas
Suella Braverman Defects to Reform UK, Accusing Conservatives of Betrayal on Core Policies
Melania Trump Documentary Sees Limited Box Office Traction in UK Cinemas
UK’s Starmer and Trump Agree on Urgent Need to Bolster Arctic Security
Starmer Breaks Diplomatic Restraint With Firm Rebuke of Trump, Seizing Chance to Advocate for Europe
UK Finance Minister Reeves to Join Starmer on China Visit to Bolster Trade and Economic Ties
Prince Harry Says Sacrifices of NATO Forces in Afghanistan Deserve ‘Respect’ After Trump Remarks
Barron Trump Emerges as Key Remote Witness in UK Assault and Rape Trial
Trump Reverses Course and Criticises UK-Mauritius Chagos Islands Agreement
Elizabeth Hurley Tells UK Court of ‘Brutal’ Invasion of Privacy in Phone Hacking Case
UK Bond Yields Climb as Report Fuels Speculation Over Andy Burnham’s Return to Parliament
Prince William to Make Official Visit to Saudi Arabia in February
Prince Harry Breaks Down in London Court, Says UK Tabloids Have Made Meghan Markle’s Life ‘Absolute Misery’
Malin + Goetz UK Business Enters Administration, All Stores Close
EU and UK Reject Trump’s Greenland-Linked Tariff Threats and Pledge Unified Response
UK Deepfake Crackdown Puts Intense Pressure on Musk’s Grok AI After Surge in Non-Consensual Explicit Images
Prince Harry Becomes Emotional in London Court, Invokes Memory of Princess Diana in Testimony Against UK Tabloids
UK Inflation Rises Unexpectedly but Interest Rate Cuts Still Seen as Likely
Starmer Steps Back from Trump’s ‘Board of Peace’ Amid Strained US–UK Relations
Prince Harry’s Lawyer Tells UK Court Daily Mail Was Complicit in Unlawful Privacy Invasions
UK Government Approves China’s ‘Mega Embassy’ in London Amid Debate Over Security and Diplomacy
Trump Cites UK’s Chagos Islands Sovereignty Shift as Justification for Pursuing Greenland Acquisition
UK Government Weighs Australia-Style Social Media Ban for Under-Sixteens Amid Rising Concern Over Online Harm
Trump Aides Say U.S. Has Discussed Offering Asylum to British Jews Amid Growing Antisemitism Concerns
UK Seeks Diplomatic De-escalation with Trump Over Greenland Tariff Threat
Prince Harry Returns to London as High Court Trial Begins Over Alleged Illegal Tabloid Snooping
High-Speed Train Collision in Southern Spain Kills at Least Twenty-One and Injures Scores
Meghan Markle May Return to the U.K. This Summer as Security Review Advances
Trump’s Greenland Tariff Threat Sparks EU Response and Risks Deep Transatlantic Rift
Prince Harry’s High Court Battle With Daily Mail Publisher Begins in London
Trump’s Tariff Escalation Presents Complex Challenges for the UK Economy
×