Ford is on track to reach the ambitious goals of manufacturing up to 600,000 electric vehicles by the end of this year and more than 2 million by the end of 2026, its 2023 Integrated Sustainability And Financial Report shows.

After announcing investments of over $50 billion in its facilities around the world from 2022 to 2026 to develop and produce EVs and EV batteries, Ford is raking in the benefits and says it’s on the path of achieving carbon neutrality no later than 2050 across its vehicles, electric or otherwise.

Additionally, the Blue Oval car company expects half of its global sales volume to be electric by 2030, after achieving a 40 percent reduction in absolute manufacturing greenhouse gas emissions from 2017, helped in part by more than $26 million that went towards facility upgrades. The Michigan-based automaker is also making strides to transition to carbon-free electricity usage, with 60.6 percent of the energy used in its operations worldwide being carbon-free and 42.6 percent being renewable energy.

“We believe the long-term success of any business is inextricably linked with creating value for customers, employees and communities, while also caring for the planet. We are undertaking a massive transformation to lead the electric and connected era of transportation and are committed to being transparent about our progress and opportunities for improvement. We are excited and optimistic about the future and look forward to making carbon-neutral transportation a reality,” said Bill Ford, executive chair.

What’s interesting in this latest report is that Ford estimates that by driving an electric F-150 Lightning, the owner will save the environment from the equivalent carbon dioxide emissions coming from burning approximately 8,777 gallons of gasoline during the vehicle’s lifetime. Moreover, the American brand says that depending on the model, driving one of its EVs could reduce lifetime carbon dioxide emissions by as much as 60 percent when charged with US grid-average electricity compared to driving a similar internal combustion engine car.

“In 2022, we made a number of advancements toward carbon neutrality, including introducing new exciting EVs, upgrading our facilities, investing in carbon-free and renewable electricity, and using our purchasing power to help scale low-carbon materials. We’re also creating new visibility and accountability for a global EV and battery supply chain that upholds our values. This is how we can help build a more sustainable, equitable and inclusive transportation future,” said Cynthia Williams, Ford global director, sustainability, homologation and compliance.

The 2023 Integrated Sustainability And Financial Report shows that Ford, along with its suppliers, underwent an audit of its nickel, lithium, and cobalt due diligence management systems, and trained over 4,000 people in 2022 (Ford employees or employees of suppliers).

The Dearborn-based carmaker currently makes the F-150 Lightning, Mustang Mach-E, and E-Transit all-electric vehicles, but as mentioned above, the zero-emissions lineup will grow considerably in the coming years. In 2022, Ford sold 39,458 units of the Mach-E, 15,617 Lightnings, and 6,500 E-Transit vans.

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