Tuesday, December 12, 2023

Ford downsizes EV battery factory plan

Ford stated Tuesday it can downsize its plans to construct a manufacturing facility in Michigan that makes cheaper lithium iron phosphate batteries utilizing tech licensed from China’s CATL. The choice comes two months after Ford paused the manufacturing facility venture, generally known as the BlueOval Battery Park Michigan in Marshall; it’s additionally in keeping with the corporate’s choice to delay about $12 billion in deliberate investments on EVs, together with development of a second battery plant with three way partnership associate SK On.

Ford, together with different automakers, have adjusted manufacturing timelines and manufacturing facility plans as the speed of progress in EV gross sales has slowed and shoppers have develop into extra worth delicate.

The scaled-down model of the EV battery manufacturing facility can have a manufacturing capability 20 gigawatt-hours, reflecting a couple of 43% discount. The manufacturing facility, which continues to be slated to begin battery cell manufacturing in 2026, will now make use of an estimated 1,700 folks, down from the two,500 jobs. Utilizing back-of-the envelope math primarily based on the capability discount, Ford will nonetheless want to speculate about $2 billion within the venture.

“Whereas we stay bullish on our long-term technique for electrical automobiles, we’re re-timing and resizing some investments. As said beforehand, we now have been evaluating BlueOval Battery Park Michigan in Marshall,” the corporate stated in an announcement Tuesday.

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