Ford trims $3.5 billion Michigan battery plant plans due to sluggish EV demand and escalating labor costs.
Ford Motor is reducing its plans for a $3.5 billion battery plant in Michigan due to labor cost increases, a slower-than-anticipated shift in consumer preference toward electric vehicles, and cost-cutting measures. The facility was originally announced in February by Ford executives, including Chair Bill Ford and CEO Jim Farley. Its ties to Contemporary Amperex Technology […]