Ford make a major announcement about its electric vehicle (EV) in future. The Detroit-based automaker is reportedly planning to build a $3.5 billion EV battery plant in Michigan, which would help to solidify its position as a major player in the growing EV market.
This move is part of Ford’s larger plan to electrify its vehicle lineup and transition away from internal combustion engines. The company has already announced plans to invest $22 billion in EVs and autonomous vehicles by 2025, and the new battery plant is a key piece of that strategy.
The exact location of the new battery plant has not yet disclosed, but we can expected them in Southeast Michigan. This region is already home to a number of key suppliers and manufacturers in the automotive industry. That’s the reason Ford will build its new facility there.
The new battery plant will produce the batteries that will power Ford’s future EVs. By producing its own batteries, Ford will have more control over the quality and cost of the components that are critical to the success of its EVs.
This announcement is significant for a number of reasons. First, it shows that Ford is serious about electrification and is willing to make the investments necessary to compete in this rapidly-growing market. Second, it will help to create jobs in Michigan, which has been hit hard by the declined of traditional automotive industry. And third, it will help Michigan as a hub for EV production and innovation.
In recent years, a number of automakers have announced plans to build their own battery plants, as they look to reduce their dependence on third-party battery suppliers. In the case of EVs, where battery is the single most expensive component of the vehicle. By producing its own batteries, Ford will be able to reduce costs and increase its profits.