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Michigan Chemistry – Ford to Spend $3.5B on LFP Battery Plant
Lithium iron phosphate batteries use fewer high-demand, high-cost materials such as critical minerals nickel and cobalt. Ford said they will power a variety of Ford’s next-generation of EV passenger vehicles and pickups, starting this year with Mustang Mach-E. A US LFP battery plant is now central to the so-called Ford+ plan because in theory it helps Ford more EV production quickly thereby making EVs more affordable for customers. Ford’s goal is an 8% EBIT margin for Model e by 2026. It is being pushed hard here by General Motors* and other global automakers as they compete in the capital markets. Continue reading →