London Daily

Focus on the big picture.
Tuesday, Oct 07, 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

0:00
0:00
Close
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
×