Ford’s new deal with a Chinese electric vehicle (EV) battery manufacturer has triggered bipartisan concern over economic and national security risks.
The iconic American automaker on Feb. 13 announced that a new $3.5 billion plant will be built in Marshall, Michigan, 100 miles west of Detroit, to produce lithium-iron-phosphate batteries, better known as LFP, a type of battery cheaper but less energy-dense than the nickel-cobalt-manganese chemistry that currently dominates the market.
A wholly-owned subsidiary will own the factory and employ the workers, Ford said, while China’s Contemporary Amperex Technology Co. Ltd. (CATL), under a licensing agreement, will provide the EV battery technology, some equipment, and workers. CATL is the world’s largest manufacturer of EV batteries, known for its dominance in LFP batteries….
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