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Follow on Google News | ![]() TDR Capital International - Ford Cuts EV Battery Plant Plans as Demand Falls and Labor Costs RiseFord (F) is decreasing projected output at a new $3.5 billion electric vehicle (EV) battery factory in Michigan due to declining EV demand, the company's attempts to cut costs, and labor costs related with the new United Auto Workers (UAW) contract.
Furthermore, instead of the initial projection of 2,500 people, only 1,700 would be employed there. In 2026, BlueOval Battery Park Michigan is anticipated to start producing lithium iron phosphate (LFP) battery cells. The decision is part of Ford's strategy, revealed last month, to cancel or postpone the construction of nearly $12 billion in additional EV production capacity. This included the postponement of the development of another battery facility in Kentucky. Spokesman Mark Truby noted that, while the firm remained optimistic about EVs and its long-term EV plan, it was evident that growth had not been as rapid as expected. Truby went on to say that the UAW contract played a role in the Michigan factory decision. The business previously stated that the arrangement will raise the price of a freshly produced car by $850 to $900. The investment and asset management services of TDR Capital International Limited may be accessed at https://tdrcapital- End
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