Automobile giant Ford is working to establish a $3.5 billion battery factory in Michigan to produce batteries to power electric vehicles.
Automobile giant Ford is working to establish a $3.5 billion battery factory in Michigan to produce batteries to power electric vehicles. The facility is expected to house at least 2,500 workers when completed.
The automotive company has pushed the button with China-based Contemporary Amperex Technology Co (CATL) to build a $3.5 billion iron phosphate battery plant outside of Marshall, Michigan, a small town about 160 kilometers west of Detroit. Ford envisioned an ownership structure that would see it own the entire factory and nearby infrastructure. Ford employees will also be present at the facility. CATL will only support the technology used to create the batteries.
“We said we have discovered and plan to localize batteries based on CATL technology for Ford vehicles,” the Ford official said. With this statement, the first lights of the partnership were lit.
Last July, Ford announced that it will use CATL-produced batteries for the Mustang Mach-E model for 2023. That same month, the company also announced plans to produce 40 gigawatt-hours of battery capacity in North America from 2026.
Electric vehicles are gradually being integrated into our lives day by day. The popularity of electric vehicles is increasing day by day, as non-renewable energy sources are reduced and they are switched to alternative fuels due to their carbon emissions. Under the leadership of Tesla, the well-established brands of the industry are accelerating the electrification process for the outgoing market. Ford is also investing heavily in this area in order to get a good share of the market.
Source: Egirisim / Prepared by Irem Yildiz