Ford to move forward with $3.5 billion EV battery plant with Chinese company
Publishing timestamp: 2023-02-13 19:57:09
Summary
Ford Motor announced a $3.5 billion collaboration with Chinese supplier CATL to build a battery plant for electric vehicles in Michigan. Ford will own the facility through a wholly owned subsidiary and license technology from CATL. The plant is expected to open in 2026 and employ 2500 people. The investment is expected to create 18000 direct jobs and 100000 indirect jobs in the US.
Sentiment: POSITIVE
Keywords: politics, business, climate, autos, tesla inc, joe biden, detroit, ford motor co, united states, transportation, breaking news: business, business news,
Source: https://www.cnbc.com/2023/02/13/ford-ev-battery-plant-china-catl.html