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Ford (F) announces $3.5B investment to build New LFP Battery Plant in Michigan

February 13, 2023 2:10 PM EST

Ford Motor Company (NYSE: F) announced today that the American automaker is investing $3.5 billion to build the countrys first automaker-backed LFP battery plant in Michigan, offering customers a second battery technology within Fords EV lineup.

The BlueOval Battery Park Michigan plant, as its being called, will initially employ 2,500 people when production of LFP batteries begins in 2026. Ford also has the option to further grow its battery capacity at its Marshall, Michigan, plant, which will be part of a wholly owned Ford subsidiary.

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