ford motor co confirmed thursday that it has secured 100 of the annual battery cell capacity needed to support its 600000 electric vehicle ev run rate target by late 2023 fords stock rose 12 in premarket trading as part of its new battery capacity plan the automaker said it is adding lithium iron phosphate lfp cell chemistry to its battery portfolio to go with the existing nickel cobalt manganese ncm chemistry that not only increases capacity and reduces reliance on scarce minerals such as nickel but also brings costs saving for 10 to 15 versus ncm batteries separately ford said contemporary amperex