Ford Pauses $3.5 Billion Michigan Battery Plant Amid Competitiveness Concerns

Ford Motor has announced a pause in the construction of a $3.5 billion battery plant in Michigan due to concerns about its competitiveness. The decision comes as Ford continues contract talks with the United Auto Workers union and Republican congressmen investigate the use of technology from Chinese battery maker CATL in the plant. The company has not disclosed the specific reason behind the pause and has not made a final decision about the investment. Ford had previously projected a higher-than-expected loss of $4.5 billion in its electric vehicle unit, leading to a slowdown in EV production. The future of EV tax credits is also a factor influencing investment decisions in the auto industry.