Ford plans to build EV battery plant in Michigan with Chinese company
The multibillion-dollar facility, to be located about 100 miles west of Detroit, is expected to create about 2,500 jobs, said the people, who asked not to be identified because the plans aren’t yet public. The agreement could be announced as soon as next week, they said.
“We’ve said that we’re exploring batteries based on CATL’s technology for Ford vehicles and that we plan to localize” production in North America, Ford said in an emailed statement. The company didn’t specify whether it had picked a location or determined other details of the project’s scope.Ford shares fell 5.6% in New York Friday to close at $12.73. They are up 9.5% this year.
The site for the new factory, near the small town of Marshall in southwestern Michigan, has room to grow, potentially bringing more jobs and a larger investment, according to the people familiar.
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