Ford, CATL Mulls New Battery Plant in U.S., Bloomberg Reports
December 15 2022 - 1:55AM
Dow Jones News
-- Ford Motor Co. and China's Contemporary Amperex Technology
Co. Ltd. are considering building a plant in the U.S. to
manufacture car batteries in an arrangement designed to take
advantage of new tax benefits while sidestepping geopolitical
sensitivities, Bloomberg reports, citing unnamed sources.
-- Potential locations include the states of Michigan and
Virginia, Bloomberg reports, adding the plant will manufacture
lithium iron phosphate batteries for Ford's electric models.
-- The companies are mulling a novel ownership structure that
gives Ford 100% ownership of the plant, while providing CATL with
operational rights and technological ownership, according to
Bloomberg.
-- Ford and CATL, which also supplies batteries to Tesla Inc.,
in July signed a strategic agreement to jointly explore new
opportunities in the global electric-car battery supply chain.
Full story: https://bloom.bg/3j59tsa
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
December 15, 2022 01:40 ET (06:40 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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