Ford Announcing Massive New $3.5B Battery Plant: Report
The plant would create 2,500 jobs in Marshall, Michigan.
Ford could be announcing its new $3.5 billion electric vehicle battery plant in Michigan. According to Automotive News, two sources close to Ford told its affiliate, Crain's Detroit Business, that the announcement will happen at Ford Ion Park in Romulus, Michigan on Monday, February 13. Ford is said to be partnering with Chinese battery company CATL to build the plant.
The Drive reached out to Ford for a statement and will update this story if we get any information.
The announcement is said to reveal detailed plans for the new Marshall, Michigan plant, as well as the addition of 2,500 jobs. It's reported that the plant will be built at the intersection of Interstates 69 and 94.
Ford reportedly received $1 billion in incentives from the state of Michigan, which was competing with Virginia for the plant. However, last month Virginia Governor Glenn Youngkin withdrew Virginia from the running. A spokesperson for Youngkin told the Richmond Times-Dispatch “While Ford is an iconic American company, it became clear that this proposal would serve as a front for the Chinese Communist party, which could compromise our economic security and Virginians’ personal privacy."
However, sources close to Ford reportedly claim that the partnership between Ford and CATL is mostly for technical knowhow. Ford is said to own the plant and will employ the workers, while CATL will provide battery technology. That partnership structure could be so Ford can take advantage of rules put in place by the new Inflation Reduction Act (IRA), which restricts EV tax credits from manufacturers whose battery components are assembled by a "foreign entity of concern."
Ford hasn't confirmed the details of its announcement but it has confirmed in a recent press release that it will announce its plan "to rapidly scale EVs and make them more accessible to customers," on Monday at 1:45 PM ET.
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