Ford’s next big EV money move: Turning batteries into business

Ford is promising more affordable electric vehicles, but it’s still looking to make a profit. After kicking off production at its new EV battery plant in Kentucky, Ford is already looking for buyers to sell extra batteries.

Is Ford planning to sell EV batteries?

BlueOval SK, Ford’s joint venture with SK On, officially began production at its Glendale, Kentucky, plant on Tuesday.

The batteries will initially be used to power the F-150 Lighting electric pickup. However, Ford has bigger plans for the facility.

During an interview with Bloomberg, BlueOval SK CEO Michael Adams said, “Both of our parents are looking for opportunities for new business.” According to Adams, securing new clients to sell batteries to is “fairly high.”

Advertisement – scroll for more content

Potential buyers could involve energy storage businesses or other EV makers, Adams explained. A Bloomberg report earlier this year claimed that Ford’s joint venture was closing in on a deal to sell batteries to Nissan, but no official confirmation has been made.

Ford’s new plans to sell excess batteries comes as it faces slowing EV sales and upcoming policy changes. The company’s EV sales are down nearly 10% through the first seven months of 2025 compared to the same period last year.

With the $7,500 tax credit set to expire at the end of September, the market will get even more competitive from here.

The joint venture has already scaled back plans at the Kentucky facility. Initially, the plant was expected to employ 2,500 workers. Now, it will have 1,450 employees.

Ford is also pausing production at a second plant in Kentucky as part of a broader strategy shift. According to Adams, the third battery plant, in Tennessee, will still begin producing batteries in 2027 despite Ford delaying its next-gen electric pickup until the following year.

Adams said everything is moving slower than expected, adding, “We’re in a monitoring phase and just being conservative in what we do in order to make sure that we’re safe.”

Ford has overhauled its EV strategy with plans to launch smaller, more affordable electric cars. The company is betting on its new “Ford EV Universal Platform” to unlock more affordable electric vehicles while still making a profit.

The first vehicle based on the platform is expected to be a mid-size electric pickup with a starting price around $30,000. Customer deliveries are set to begin in 2027.

Ford will utilize lower-cost lithium-iron-phosphate (LFP) batteries, manufactured in Michigan with licensed technology from China’s CATL, to power the new platform.

Electrek’s Take

Like most automakers, Ford is aggressively looking to cut costs to turn a profit on electric vehicles. After its EV business, Model e, lost $5.1 billion last year, Ford is warning that it could lose even more this year due to investments in its next-gen models.

According to Farley, the first model will need to be profitable in its first year on the market. Selling extra batteries could be a new source of revenue for Ford as it looks to turn things around.

Ford isn’t the only automaker that wants to sell EV batteries in the US. Earlier this year, a Nikkei report claimed Toyota would begin selling batteries to power Honda’s hybrid vehicles from its new plant in NC, starting in 2026.