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Ford’s gearing up to announce a $3.5 billion battery plant in Marshall, Michigan, according to a report from Automotive News. In an advisory obtained by the outlet, the automaker says it will reveal the news of the factory on Monday in partnership with China’s Contemporary Amperex Technology (CATL), a company that creates lithium iron phosphate batteries for electric vehicles (EVs), including the Mustang Mach-E.
While Ford still hasn’t confirmed these plans, Michigan reportedly offered $1 billion in incentives to attract the automaker. The factory’s expected to bring 2,500 jobs to the area.
The project is part of Ford’s efforts to comply with the strict rules set by the Biden administration’s Inflation Reduction Act (IRA), which lets E…
Source: TheVerge
