Ford’s $3.5B Michigan Battery Factory on Hold: An Inside Look at the Unexpected Pause

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Mon September 25, 2023Fri September 29, 2023By techdigestdaily.com
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Ford’s $3.5B Michigan Battery Factory on Hold: An Inside Look at the Unexpected Pause

Ford Hits Pause on $3.5B Michigan Battery Factory

Key Article Points:

  • Ford announced on Monday that it has indefinitely halted operations at a $3.5 billion factory in Michigan, expected to manufacture cost-effective lithium iron phosphate batteries.
  • The technology for these batteries was going to come from CATL, a Chinese company.
  • Ford’s spokesperson explained that work and construction spending on the Marshall Project are going to be on hold until the company gains operational effectiveness confidence.

Hot Take:

Looks like Ford has pumped the brakes on their ambitious $3.5 billion battery factory project in Michigan. It seems the automotive giant realized they were actually in the middle of a high-stakes poker game with the very laws of economics. But alas, unlike a Hollywood movie, you can’t just charm your way to victory against those. Expected to churn out affordable lithium iron phosphate batteries, the factory was set to be the veritable Willy Wonka’s Chocolate Factory for electric vehicle lovers. But now, it looks more like the Phantom of the Opera’s desolate opera house – lots of potential, but eerily silent. According to Ford’s spokesperson, they won’t be switching back on the factory lights until they feel they got the upper hand in this intense game. While we wait, let’s keep our fingers crossed the company finds a way to put the pedal back to the metal real soon.


Original Article: https://techcrunch.com/2023/09/25/ford-halts-work-on-3-5b-ev-battery-factory-with-chinas-catl/