Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Instagram Outage Disrupts Thousands of U.S. Users 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
In a major move for U.S. EV production, Ford and LG Energy Solution will relocate Mustang Mach-E battery manufacturing from Poland to Michigan by 2025. The shift aligns with IRA tax incentives, designed to encourage domestic EV supply chains.
Ford and LG Realign EV Battery Production for Tax Credit Benefits
The production of electric vehicle batteries for the Ford Mustang Mach-E will be relocated from Poland to LG's Michigan factory in 2025, as per a newly signed deal between the two firms, Electrek shares. Obviously, this is highly relevant to individual retirement accounts and tax credits.
New Agreement Aims to Harness Competitive U.S. Market Conditions
"To capitalize on competitive market conditions," the new agreement states, relocating production of Ford Mach-E batteries to the United States. This will allow the batteries to take advantage of the varied incentives offered by the American government. Starting in 2026, LG intends to supply Ford with 109 GWh of batteries for its electric commercial vans, taking advantage of subsidies in Europe.
"These agreements attest to our experience and expertise in powering commercial vehicles with innovative battery technologies designed to handle extreme user environments," stated David Kim, CEO of LG Energy Solution. "Capitalizing on our local production capacity, we will secure leadership in the European market and deliver unmatched values to our customers through advanced battery technologies that effectively address diverse needs."
Ford Leverages IRA Tax Credit to Boost Domestic EV Battery Chain
In order to be eligible for the (up to) $7,500 New Clean Vehicle Tax Credit on PHEVs and EVs, several automakers, including Ford, have entered into strategic arrangements to expand their American battery supply chains.
LG’s $3 Billion Michigan Investment to Supply U.S.-Built EVs
In a related development, LG Energy said that it will be investing $3 billion in its battery factory in Michigan to supply lithium to Toyota. This lithium will be utilized in the batteries of future electric vehicles manufactured in the United States.
Ford’s Broader Battery Production Push Includes SK On in Kentucky
Along with the agreement with LG, Ford also has a contract with SK On to manufacture batteries in Kentucky for the upgraded E-Transit commercial van and F-150 Lightning electric pickup starting in the middle of 2025.
