November 22, 2021: -Ford Motor is planning to increase its production capacity of electric vehicles to 600,000 units by 2023, which CEO Jim Farley expects would make the company the second-largest U.S.-based producer of EVs, after Tesla.
On Thursday, According to a report from Automotive News, Farley said the increase would double the number of EVs the company had expected to produce over the next 24 months. That production is expected to be spread across Ford’s first new EVs, is the Mustang Mach-E, F-150 Lightning, and E-Transit. According to the Detroit-based publication, it would come before the show is scheduled to begin at a newly announced EV assembly plant in Tennessee.
“The demand is much higher than we expected,” Farley said. “It’s a new experience for this big company, trying to be agile. We had to approach it very differently than we’ve done capacity planning.”
It’s unclear whether 600,000 would place it second behind Tesla, and General Motors plans to sell 1 million electric vehicles globally by 2025. In its third-quarter investor update, Tesla said that the installed annual capacity at its Fremont, California, vehicle assembly plant stands at 600,000, and in Shanghai at over 450,000 cars per year. The company also builds new factories near Austin, Texas, and Berlin.
A GM spokesman said the automaker approached 300,000 EV sales globally through the first nine months of this year, mainly in China. GM also plans to convert almost four North American plants is producing vehicles with internal combustion engines to be capable of producing EVs in the future years and plants in China and Michigan that already have such cars.
Concerning the increase in EV capacity, Farley said Ford is planning to convert over 80% of reservation holders for its upcoming F-150 Lightning EV into owners. Ford says over 160,000 reservations that require a $100 fully-refundable deposit have been placed for the vehicle ahead of its arrival in dealerships by mid-2022.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …