ROMULUS, Michigan/WASHINGTON : Ford Motor Co 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 U.S. customers to embrace a lower-cost technology pioneered in Ch
Ford's plan to build the battery plant near Marshall, Michigan, 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.
The BlueOval Battery Park Michigan project is a"substantial step in the path to affordability and the path to 8 per cent" margins, Ford Vice President Lisa Drake said on Monday during a media call. Since then, diplomatic tensions between the United States and China have escalated. Also, Congress passed the Inflation Reduction Act, known as the IRA, which ties a significant share of federal subsidies to domestic production and raw materials content.
The Marshall factory is one of four battery plants Ford plans has so far announced plans to build in North America and Europe.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ford to invest $3.5 billion to build Michigan battery plantFord Motor Co will build a new lithium iron phosphate battery plant in Michigan as part of a $3.5 billion investment plan, the automaker and state said Monday.The plant will be located in Marshall, Michigan and eventually employ at least 2,500 workers. Reuters reported Friday Ford is expected to own and o
Read more »
Lake Michigan airspace closure latest move in objects sagaThe Lake Michigan restrictions were lifted shortly after they were announced, apparently with no threat detected. Read more at straitstimes.com.
Read more »
Rallying-Ford's Tanak leads Rally Sweden into final dayM-Sport Ford's Ott Tanak will lead Rally Sweden into Sunday's final three stages after overhauling Irish rival Craig Breen on the penultimate leg.The Estonian turned a 2.6 seconds overnight deficit into a slender 8.6 seconds advantage over his Hyundai rival on the rutted and snowy roads.Both frontr
Read more »
Wu Yibing shocks Fritz to become first Chinese ATP finalist of Open Era in DallasLOS ANGELES: Wu Yibing stunned top-seeded Taylor Fritz 6-7 (3/7), 7-5, 6-4 at the Dallas Open on Saturday (Feb 11) to become the first Chinese man to reach an ATP final in the Open Era. The 23-year-old followed up victories over third-seeded Denis Shapovalov and eighth-seeded Adrian Mannarino, and was alre
Read more »
White House spokesperson: Downed objects 'did not closely resemble' Chinese balloonThe objects were much smaller than the PRC balloon Read more at straitstimes.com.
Read more »
Wu makes history as first Chinese ATP Tour winner with Dallas victoryLOS ANGELES Wu Yibing overcame a ferocious bombardment from John Isner to become the first Chinese man to win an ATP Tour title at the Dallas Open on Sunday (Feb 12). The 23-year-old from Hangzhou saved four match points before claiming a 6-7 (4/7), 7-6 (7/3), 7-6 (14/12) victory in just under three hours
Read more »