Micron Technology Inc. has entered into a long-term memory supply pact with Ford. The deal aims to strengthen supply of memory and storage solutions according to the company.
Futures tied to Micron's stock rose 3.5% ahead of Wall Street open. The stock pared some gains to trade 3.4% higher at $1,009.25 as of 8:38 a.m. EST.
"Micron is expanding output of automotive memory solutions with capacity increases designed to support long product lifecycles and ensure sustained supply for production programs. The investments are part of Micron's efforts to scale supply with growing global demand for memory and storage," the company said in a press release.
It added that the agreement is supported by Micron's ongoing investments to expand and localise manufacturing for automotive customers, including its expansion of advanced DRAM production at its Manassas, Virginia fab. The strategic agreement is one of the is 16 discussed on Micron's fiscal third-quarter 2026 financial conference call.
“Producing the high-volume vehicles of the future in the U.S. will require a resilient supply chain,” said Jim Farley, President and CEO of Ford Motor Company. “We applaud Micron's commitment to manufacturing in America, expanding its domestic production and investing in a skilled workforce.”
Commenting on the deal, Micron's President and CEO Sanjay Mehrotra said that the company is proud of its collaboration with Ford to help ensure a reliable, long-term supply of memory and storage solutions.
"As vehicles become more intelligent and data-intensive, the importance of advanced memory and storage continues to grow, making collaboration and long-term supply increasingly important," the President highighted..
Moreover, he said that through supply assurance, deep technology collaboration, and continued investment in manufacturing capacity, Micron is helping enable consistent, long-term support for Ford's next-generation vehicle production as demand for advanced memory continues to grow.
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