Ford Motor Company announced a breakthrough in battery technology with its newly developed Lithium Manganese Rich (LMR) battery chemistry, which is expected to enable more affordable electric vehicles with extended range by 2030. Charles Poon, Ford's Director of Electrified Propulsion Engineering, stated that LMR batteries combine the safety advantages of lithium iron phosphate (LFP) batteries with the energy density of high-nickel batteries, while being significantly more cost-effective than current mid-nickel battery solutions. Ford has not disclosed specific technical details. The LMR battery technology aims to address challenges such as voltage decay and cycle life while maintaining energy density. Ford has already begun pilot production of second-generation LMR cells at its Ion Park Battery Center of Excellence in Romulus, Michigan. Currently, battery costs account for over one-third of total EV production costs, and Ford views reducing battery prices as crucial to achieving cost parity between electric and gasoline-powered vehicles. Ford plans to integrate LMR battery technology into future vehicle models within this decade. Previously, the company has introduced nickel-cobalt-manganese batteries and added lithium iron phosphate battery options in 2023.