![]() ![]() and China are at rock bottom, and there are concerns the deal could give China leverage over the direction of American auto and energy policy. But all this comes at a time when relations between the U.S. NORTHAM: Ford is planning to build a $3.5 billion factory to produce the LFP batteries in the town of Marshall, not far from Detroit. SCOTT KENNEDY: It's a decision that makes entirely reasonable business sense given that Ford doesn't have a lot of other good alternatives to obtain this technology and that it is behind in the race to electrify its fleet and needs to catch up. Scott Kennedy, a China specialist at the Center for Strategic and International Studies, says it's a smart move. But Ford wants to make its own, so it's entered into a licensing agreement with CATL. It could just buy those batteries in China like GM, BMW and others. It would take years for Ford to develop that technology. ![]() The thing is a Chinese company called CATL dominates global production of LFP batteries. It'll be cheaper than the current one that's made with cobalt and nickel, more durable and have a shorter charging time. NORTHAM: The new battery is called LFP, lithium iron phosphate. UNIDENTIFIED PERSON: Including a new battery chemistry coming this year that will help us make EVs more affordable and accessible. In this company video, a Ford executive talks about the batteries used in its fleet of electric vehicles. In an effort to compete for market share, Ford is trying to produce an efficient, reasonably priced component that's critical to the EV - the battery. JACKIE NORTHAM, BYLINE: The world's automobile makers are shifting to electric vehicles. through a licensing agreement with the Chinese company that developed them. It plans to produce batteries in the U.S. ![]() Most companies buy them from the world leader in batteries. automakers are facing a big challenge - getting batteries for electric vehicles. In the effort to shift to cleaner energy, U.S. ![]()
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