Ford will establish a battery factory with an investment of 3.5 billion dollars

Electric vehicle technologies, which are seen as the future of the automotive world , are getting more and more popular with each passing day. With the popularity, the need for electric vehicle batteries to power cars is also increasing. Due to this problem, many large companies in the automotive industry started to establish factories to produce batteries for electric vehicles.

We told you in March last year that LG Energy will invest $1.4 billion to produce batteries in the USA. According to the information shared by Reuters, Ford, one of the most important automobile manufacturers in the USA, is preparing to establish a large factory that produces batteries to be used in electric vehicles. 

Let’s add that the battery factory, which is expected to be established by Ford with an investment of 3.5 billion dollars, will be established in the US state of Michigan . Ford will cooperate with China-based battery manufacturer Contemporary Amperex Technology Co (CATL) for the factory.

The factory, which will be established with the cooperation of Ford and Contemporary Amperex Technology Co, will create employment for 2,500 people  in total . The state of Michigan is also expected to provide Ford with $1 billion in incentives in exchange for 2,500 jobs .

Let us also remind you that the battery factory, which is expected to be established in Michigan, is not the first investment made by Ford in this area. In September 2021, we told you that Ford will invest $11.4 billion in two large production facilities in the USA to produce electric vehicles and batteries with SK Innovation . Taking important steps in electric vehicles, Ford continues its investments.

The collaboration between Ford and Contemporary Amperex Technology Co is expected to be officially announced this week. We will continue to inform you about the developments on the subject.