Euro Manganese Inc (ASX:EMN) (CVE:EMN) (OTCMKTS:EUMNF) (FRA:E06) welcomes Ford Motor Company Inc’s plans for the fast-growing battery electric vehicle (BEV) business, which includes its intention to design, engineer and manufacture its own batteries.
At its 2021 Capital Markets Day, Ford Motor North America chief operating officer Lisa Drake outlined plans for a 240 GWH capacity by the end of the decade, which amounts to about 10 plants, spread between North America, Europe and China.
Drake also unveiled a map, which showed a glimpse of three prospective facilities in Europe. View a short video clip here.
Euro Manganese said: “We can’t wait to hear more details of Ford’s ambitious plans for BEVs.”
The company believes it stands to benefit from the plans as it progresses its strategy to become the only primary producer of battery-grade manganese in the European Union.