Ford Motors to Invests $3.5 Billion EV Battery Plant in USA

Ford company plans to construct a $3.5 billion electric vehicle battery plant 100 miles (160 kilo meters) in the West of Detroit that would employ about 2,500 people.

February 14, 2023. By EI News Network

Ford Motors is going ahead to join together with a Chinese vendor on a new $3.5 billion battery plant for electric vehicles in the state of Michigan, USA. This plant is anticipated to open in 2026 and going to provide employ around 2,500 people.

Ford company plans to construct a $3.5 billion electric vehicle battery plant 100 miles (160 kilo meters) in the West of Detroit that would employ about 2,500 people.

It will collaborate with a Chinese supplier on a new $3.5 billion battery plant for electric vehicles in Michigan, in contempt of tensions between the U.S. and China.

The automaker will own the new facility through a wholly owned subsidiary instead of operating it as a joint venture with CATL, some of the auto manufacturers including Ford, in completion with non-China partners in the U.S.

CATL will manufacture new lithium iron phosphate batteries, or LFP, contrary to costlier nickel, cobalt, manganese batteries, which the company is presently utilizing. The new batteries are mainly processed to give many benefits at a lower price, aiding Ford in rising EV output and profit margins.

CATL is cooperating with the technology for lithium iron phosphate batteries, which are less cost-intensive and will make Ford’s EV product range more feasible to the user. The plant will be the first in the US to produce so-called LFP batteries.

In beginning, Ford Motors will use batteries will be imported from China. Tesla Inc. and Honda Motor Co. also have contracts with CATL to import LFP batteries for their EV models.

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