Today, Ford announced plans for a $3.5 billion battery factory with Chinese technology in the United States. The factory, which will be located in Michigan, will produce lithium-ion batteries for Ford’s electric vehicles (EVs).
The factory is part of a larger effort by Ford to increase its investment in electric vehicles. The automaker is ramping up spending on EVs, with a plan to invest $30 billion in electric and autonomous vehicles by 2025.
Ford’s EVs are also getting faster charging and more affordable batteries, thanks to new chemistry developed by the company. Ford is partnering with Chinese battery maker CATL to produce the lithium-iron phosphate (LFP) batteries. LFP batteries are known for their low cost and long life, and are becoming increasingly popular in electric vehicles.
Ford’s new battery factory is expected to create thousands of jobs in Michigan and significantly reduce the cost of electric vehicles. The factory is expected to be operational by 2023.
This move by Ford is part of a larger trend among automakers to invest in electric vehicles and battery technology. Several other automakers have announced plans to build electric vehicle factories in the United States, including General Motors, Volkswagen, and Tesla.
For more information on Ford’s new battery factory, visit the full coverage on USNN.