BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
UPS MD-11 Crash Prompts Families to Prepare Wrongful Death Lawsuit 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Ford Motor is spending about $3.5 billion to proceed with its plans of building a new plant for the production of batteries for electric vehicles. The American automaker is doing this business in partnership with a Chinese company, Contemporary Amperex Technology Co., Limited or CATL.
Ford Motor confirmed this week that the EV battery plant is set to rise in Michigan. The company was supposed to build it in the state of Virginia but its governor reportedly rejected the proposal.
The company’s aim for the new facility is to reduce the cost of entry-level EVs by producing low-cost batteries for some of its own electric vehicle units. The EV battery plant will initially generate at least 2,500 new jobs when it opens at a greenfield site in the city of Marshall.
As per Fox Business, production of EV batteries in the facility will begin in 2026. To be more exact, it will make lithium iron phosphate cells (LFP) and nickel cobalt manganese cells (NCM) which are cheaper to manufacture. Then again, these EV battery components are said to have a lower energy density compared to the nickel cobalt manganese chemistry (NCM) that is currently being used in all Ford EVs.
Although this project is a collaboration with CATL, it will be fully owned by one of Ford Motor’s subsidiaries. But it was agreed that the Chinese battery firm will allow the use of its technology for the production.
The announcement of the plant was attended by Michigan Governor Gretchen Whitmer, Ford’s chief executive officer, Jim Farley, and executive chairman, Bill Ford. The event took place at the Ford Ion Park where they also revealed that the facility will measure 2.5 million square feet.
“We are committed to leading the electric vehicle revolution in America, and that means investing in the technology and jobs that will keep us on the cutting edge of this global transformation in our industry,” the automaker’s executive chair Bill Ford said in a press release. “I am also proud that we chose our home state of Michigan for this critical battery production hub.”
Photo by: Jessy Smith/Unsplash
