Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant, but due to slowing electric vehicle sales growth, it will reduce the factory size and planned jobs.
The annual battery cell output will drop from enough for 400,000 vehicles to about 230,000.
The plant was put on hold during a strike by the United Auto Workers union, and the company had to reevaluate growth forecasts for electric vehicle sales. (Trending: Olympic Gold Medalist Sentenced For Jan 6)
Spokesman Mark Truby said, “We are now good to confirm that we are moving forward with the plant.”
The plant will produce batteries with a cheaper chemistry and is set to open in 2026.
Ford reportedly accepted a $9.2 billion loan from the government specifically to build electric vehicles.
The company is still optimistic about EVs but is scaling back plans due to slower growth than expected.
“While there is growth both in the U.S. and worldwide, clearly the growth isn’t at the rate that we and others had expected,” admitted Truby.
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