At a press conference later today, Ford Motor Co. is expected to announce plans to build a $3.5B EV battery factory in Michigan.
The automaker is reportedly partnering with China’s Contemporary
Amperex Technology (CATL) to produce lithium iron phosphate battery
cells at the plant.
- At a conference starting at 1:45 PM ET, Ford will share plans to “rapidly scale EVs and make them more accessible to customers.”
- The
plant, expected to be located in the city of Marshall, would employ
about 2,500 workers as part of a 1,900-acre “megasite” in the southwest
part of Michigan.
- It would exclusively produce cobalt-free batteries, which are cheaper to produce but have less energy density than lithium-ion batteries.
- Last month, it was reported that Ford initially chose Virginia for the site, but was turned down by Governor Glenn Youngkin over concerns about CATL's ties to China.
