Ford Pushes Forward With $3.5 Billion EV Plant, Cut 3,800 Jobs In Europe

[Admin]

Ford announced on Monday 13 February 2023 that it will partner with Chinese battery group Contemporary Amperex Technology Co., (CATL) to build a $3.5 billion electric vehicle battery plant in Michigan. Ford’s deal with the largest battery producer in the world is coming on the heels of a new US tax credit for EVs under … (read full article...)

 

[Amperix]

The partnership with CATL is part of Ford's plan to invest $22 billion in electric vehicles and autonomous technology through 2025. The company aims to have 40% of its global vehicle sales come from electric vehicles by 2030. The new battery plant in Michigan is a key part of Ford's strategy to build a vertically integrated electric vehicle business, which includes developing its own batteries and controlling the production of key components.