Ford Pledges $2 Billion for Battery Storage, Faces China Expansion Push
Ford commits $2 billion over two years to establish a battery-storage division and convert three North American EV battery factories to stationary storage cells. Company's GM-LG joint venture will repurpose a Tennessee plant while China's Vice Commerce Minister urged Ford to deepen its presence in China's auto market.
1. Ford's $2B Battery Storage Investment
Ford will allocate $2 billion over the next two years to launch a dedicated battery-storage division, converting three North American EV battery factories operated by LG Energy Solution into stationary storage cell production sites. The GM-LG Ultium Cells joint venture will also repurpose its Tennessee plant to meet surging demand for grid and data center storage, aiming to alleviate the glut of unused EV battery capacity.
2. China Market Expansion Push
China's Vice Commerce Minister Li Chenggang met with a senior Ford executive in Beijing, urging the automaker to deepen its Chinese market presence. The meeting underscores Beijing's drive to attract foreign automakers as Ford evaluates local partnerships, production expansion and new EV model launches to boost its sales in the world’s largest auto market.