Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Ford Motor is spending about $3.5 billion to proceed with its plans of building a new plant for the production of batteries for electric vehicles. The American automaker is doing this business in partnership with a Chinese company, Contemporary Amperex Technology Co., Limited or CATL.
Ford Motor confirmed this week that the EV battery plant is set to rise in Michigan. The company was supposed to build it in the state of Virginia but its governor reportedly rejected the proposal.
The company’s aim for the new facility is to reduce the cost of entry-level EVs by producing low-cost batteries for some of its own electric vehicle units. The EV battery plant will initially generate at least 2,500 new jobs when it opens at a greenfield site in the city of Marshall.
As per Fox Business, production of EV batteries in the facility will begin in 2026. To be more exact, it will make lithium iron phosphate cells (LFP) and nickel cobalt manganese cells (NCM) which are cheaper to manufacture. Then again, these EV battery components are said to have a lower energy density compared to the nickel cobalt manganese chemistry (NCM) that is currently being used in all Ford EVs.
Although this project is a collaboration with CATL, it will be fully owned by one of Ford Motor’s subsidiaries. But it was agreed that the Chinese battery firm will allow the use of its technology for the production.
The announcement of the plant was attended by Michigan Governor Gretchen Whitmer, Ford’s chief executive officer, Jim Farley, and executive chairman, Bill Ford. The event took place at the Ford Ion Park where they also revealed that the facility will measure 2.5 million square feet.
“We are committed to leading the electric vehicle revolution in America, and that means investing in the technology and jobs that will keep us on the cutting edge of this global transformation in our industry,” the automaker’s executive chair Bill Ford said in a press release. “I am also proud that we chose our home state of Michigan for this critical battery production hub.”
Photo by: Jessy Smith/Unsplash
