From The New York Post, February 13:
Ford investing $3.5B to build EV battery plant with Chinese partner
Ford Motor on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, betting that making the batteries in the United States will help and Chinese partner CATL attract US customers to embrace a lower-cost technology pioneered in China.
Ford’s plan to build the battery plant near Marshall, Mich., hinges on a judgment that lower cost and faster recharging will attract many customers, including commercial fleet buyers, to accept the limitations of lithium-iron-phosphate, or LFP batteries.
Ford is also counting on its decision to manufacture LFP batteries in the US at the wholly owned plant to take the political risk out of relying on a Chinese technology partner.
Building LFP batteries in Michigan also gives Ford a shot at significant US battery manufacturing subsidies that could help it hit a goal of 8% profit margins on its EV operations by 2026.
The BlueOval Battery Park Michigan project is a “substantial step in the path to affordability and the path to 8%” margins, Ford Vice President Lisa Drake said on Monday during a media call....
....MUCH MORE
If interested see also February 11's "Cobalt’s battery-powered boom has turned to bust"
