Ford to move forward with $3.5 billion EV battery plant with Chinese partner

Malaysia News News

Ford to move forward with $3.5 billion EV battery plant with Chinese partner
Malaysia Latest News,Malaysia Headlines
  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Ford will own the new facility through a wholly owned subsidiary instead of operating it as a joint venture, which Ford has done with non-China partners.

The anticipated announcement of the deal between Ford and Contemporary Amperex Technology Co., or CATL, follows Virginia Gov. Glenn Youngkin saying he wasfrom a competitive process to attract the planned Ford plant over its connection to the Chinese company.

"The LFP technology is already here in the U.S. It's in a lot of consumer electronics devices, it's actually in another OEM product, but, unfortunately, it's always imported," Drake said during a media call. "This project is aimed at de-risking that by actually building out the capacity and the capability to scale this technology in the United States, where Ford has control.

Drake said Ford is not necessarily concerned about the Chinese government interfering with the deal, saying the companies "certainly thought through that and those are provisions," including optionality in the contract.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China needs stronger family-focussed policies to spur births, Chinese expert saysChina needs stronger family-focussed policies to spur births, Chinese expert saysChina should enhance incentives for people to build families and boost the birth rate as the country's now-falling population could threaten the world's second-biggest economy, a Chinese family planning expert said.
Read more »

China needs stronger family-focussed policies to spur births- Chinese expertChina needs stronger family-focussed policies to spur births- Chinese expertChina should enhance incentives for people to build families and boost the birth rate as the country's now-falling population could threaten the world's second-biggest economy, a Chinese family planning expert said.
Read more »

China needs stronger family-focused policies to spur births, Chinese expert saysChina needs stronger family-focused policies to spur births, Chinese expert saysChina should enhance incentives for people to build families and boost the birth rate as the country's now-falling population could threaten the world's second-biggest economy, a Chinese family planning expert said.
Read more »

Chinese military aircraft, vessels detected around Taiwan after US conducts exercises in the South China SeaChinese military aircraft, vessels detected around Taiwan after US conducts exercises in the South China SeaChinese military aircraft and ships were detected around Taiwan on Monday morning after the U.S. held joint exercises in the South China Sea over the weekend.
Read more »

China says U.S. flew more than 10 high-altitude balloons over Chinese airspaceChina says U.S. flew more than 10 high-altitude balloons over Chinese airspaceChina said on Monday that U.S. high altitude balloons had flown over its airspace without permission more than 10 times since the beginning of January 2022.
Read more »

China accuses U.S. of flying spy balloons into Chinese airspace more than 10 timesChina accuses U.S. of flying spy balloons into Chinese airspace more than 10 timesThe accusations made by China on Monday have further ratcheted up tensions between the two countries amid mutual allegations of surveillance.
Read more »



Render Time: 2025-03-06 21:14:58