Ford announces joint venture to manufacture EV battery cells in U.S.

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Dane Hardware (right), Ford design and release engineer, and Mary Fredrick, Ford battery validation engineer, measure the voltage of a battery using a digital multimeter at Ford’s Battery Benchmarking and Test Laboratory in Allen Park, Michigan.

Ford

DETROIT – Ford Motor plans to form a joint venture with South Korean battery maker SK Innovation that will eventually manufacture battery cells for electric vehicles in the U.S.

The companies on Thursday announced they have signed a memorandum of understanding for a joint venture that will be called BlueOvalSK. Production of the battery cells as well as well as supporting modules is expected to start by mid-decade, the companies said.

The announcement comes amid an expected surge in electric vehicle sales as well as a push by the Biden administration to increase domestic production of critical technologies for EVs such as battery cells, which power the vehicles.



Source : CNBC