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“I want to build a car that’s faster than all of them, and then I want to die.”
The good news. Ford has announced that it will invest $3.5 billion in building an automaker-backed lithium iron phosphate (LFP) battery plant in Marshall, Michigan. The BlueOval Battery Park Michigan will employ 2,500 people when production of LFP batteries begins in 2026. The investment is part of the company’s commitment to invest over $50 billion in electric vehicles globally through 2026, and it will lead to more than 18,000 direct jobs in the US and more than 100,000 indirect jobs. By adding LFP batteries to its electric vehicle lineup this year, Ford will diversify and localize its battery supply chain in the countries where it builds EVs, improving customer availability and affordability. It will also help Ford to contain or reduce electric vehicle prices for customers.
The not-so-good news. Ford has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue, and the company is investigating the problem after a vehicle displayed a potential problem. There is no timetable for when production will ramp back up, but we know Ford is working on a timely resolution.
In other EV News
- Argonne National Laboratory is contributing to automotive innovation in several different ways. These include initiatives to speed up electric vehicle charging, developing online tools to help secure funding, assessing the energy efficiency of connected and automated vehicle technologies, and offering an Autonomous Vehicle Camp for high school students.
- Xiaomi’s CEO, Lei Jun, announced during their recent investor day that the company’s electric car will make its mass production debut in Q1 2024, with over 140 autonomous vehicles undergoing testing in the first phase of the initiative.
- Magna International will expand its partnership with GM to supply battery enclosures for the new 2024 Chevy Silverado EV, set to begin production later this year.
- Incoming CEO of Toyota, Koji Sato, announced that the automaker plans to release “next-generation” electric cars under the Lexus brand by 2026, and expand its current EV lineup, which includes the bZ4X and Subaru Solterra.
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