Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan.
DETROIT – U.S. lawmakers are seeking to review a licensing deal between Ford Motor and China-based CATL that would allow the automaker to produce battery cells developed by the global supplier at a planned $3.5 billion plant in Michigan.
The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins.
Several hundred of the proposed 2,500 jobs managed by Ford will be staffed by CATL employees from China until the licensing agreement expires in 2038, according to the letter.
"Indeed, although the executives of the proposed project will be US-based Ford employees, it appears that the project will rely on CATL employees from the PRC to maintain operations in the long term," the lawmakers wrote.
Persons:
Jim Farley, Biden, Tesla
Organizations:
Ford Motor Company, Technology, Ford Motor, Chinese Communist Party, CCP, Ford, Detroit automaker
Locations:
China, Marshall , Michigan, Romulus , Michigan, DETROIT – U.S, Michigan