Ford may announce as early as next week that it will build a new $3.5 battery factory in Michigan where CATL will manufacture LFP batteries,
Subsequently, Richard Cullen, Youngkin’s chief legal counsel, pontificated in an interview with thethat the proposed battery plant involved “national security risk-type technology and he stopped that. They were looking for land and incentives to build something and I think that was the nucleus” of the evolving concern about farmland, he said.
The arrangement between Ford and CATL is expected to satisfy the requirements of the Inflation Reduction Act regarding the sourcing of battery materials and components from within the US or from favored trading partners — basically anywhere except China. It would be silly to build a new battery factory if its products were excluded from the generous incentives included in the IRA.
In July, Ford said it plans to localize 40 GWh of battery capacity in North America starting in 2026. It also announced an agreement with CATL to explore supplying battery packs for Mustang Mach-E models for North America starting in 2023 and said they would discuss cooperation with CATL for batteries in Ford vehicles worldwide.CATL has been trying to find a way to become involved in battery manufacturing in America for some time.
Similar fears bedeviled Japanese manufacturers at one time and then later manufacturers in South Korea. Today, no one has a second thought about buying a Japanese or Korean car, appliance, or electronic device, but that was not always the case. Now China is poised to use the electric car revolution to create an opening in foreign markets. Europe has been quite receptive to Chinese-made cars, but the US has been much less welcoming.
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.
Ford plans to build EV battery plant in Michigan with Chinese company - AutoblogFord is moving forward with the joint venture despite geopolitical uncertainty
Read more »
Ford reportedly plans to build a $3.5 billion EV battery factory in Michigan | EngadgetFord could announce as early as Monday that it’s partnering with China’s Contemporary Amperex Technology Co to build a $3.5 billion iron phosphate battery plant outside of Marshall, Michigan..
Read more »
Ford to announce $3.5 bln battery plant in Michigan, sources sayFord Motor Co is set to announce as soon as Monday it plans to build a new $3.5 billion lithium iron phosphate battery plant in Michigan, sources told Reuters.
Read more »
Ford’s reportedly working on a $3.5 billion battery plant in MichiganFord could announce the Michigan-based factory on Monday.
Read more »
What does Michigan have to do with Texas and Oklahoma leaving Big 12 early?Michigan, a Big Ten school, was somehow a factor in the negotiations between Texas, Oklahoma, the Big 12, the SEC and Fox.
Read more »
14-year-old girl missing over year found in closet of Michigan home, authorities sayA 14-year-old girl reported missing over a year ago was found hiding in a closet in Michigan, authorities said. 'She was crying. ... She was pretty terrified. And she was afraid of losing her baby,' Deputy U.S. Marshal Robert Watson said to freep.
Read more »