Beautiful Virgin Islands

Tuesday, Jul 22, 2025

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
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
×