(RTTNews) – Ford Motor Co. (F) has halted construction of a $3.5 billion factory in Michigan where it planned to make batteries for electric vehicles using technology from a Chinese company, media reported Monday, citing a Ford spokesperson. .
According to the reports, Republican lawmakers have been investigating the project and Ford’s partnership with the Chinese company, scrutinizing issues surrounding American jobs, technology sharing and links to forced labor.
“We are pausing work and limiting expenditures on construction of the Marshall project until we are confident in our ability to operate the plant competitively. There are a number of considerations. We have not been specific about what they are, nor have we made any considerations. final decision on the planned investment there,” the Ford spokesperson reportedly said in an emailed statement.
Ford Motor said in February 2023 that it would invest $3.5 billion to build a lithium iron phosphate (LFP) battery factory in Marshall, Michigan. The factory – called BlueOval Battery Park Michigan – would initially employ 2,500 people when production of LFP batteries begins in 2026.
The project would be wholly owned by a Ford subsidiary, but would use technology licensed from China’s Contemporary Amperex Technology Co., Limited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.