Ford plans to set up a factory in the US with the Chinese battery giant
The American car manufacturer Ford and the Chinese company Contemporary Amperex Technology Co Ltd (CATL) are considering building a factory to produce batteries for electric vehicles in the US state of Michigan or Virginia.
According to the Bloomberg story based on sources close to the matter, the multi-billion dollar factory will produce lithium-ion batteries for Ford electric vehicles.
CATL WILL BE RESPONSIBLE FOR BUSINESS AND TECHNOLOGY
According to the report, the companies are considering establishing a structure in which Ford will be the sole owner of the factory, while Chinese battery giant CATL will be responsible for the operation and provide the technology needed for production.
Companies will thus be able to take advantage of US incentive laws without facing the problems that may arise from trade policy tensions between China and the US.
Ford and CATL have not yet responded to questions on the matter. (Reuters)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
