Ford Cuts Back on Battery Plant Amidst Slowing EV Adoption
Ford is scaling back its plans for a new electric vehicle battery plant in Michigan, reducing its investment from $3.5 billion to around $2 billion and lowering the expected number of hires from 2,500 to 1,700. The decision comes as the company faces rising labor costs and slowing demand for electric vehicles. The plant, which was announced in partnership with China's CATL, will now produce about 43% fewer batteries per year. Despite recent production halts and delays, Ford still plans to open the facility in 2026.