- In February 2023, Ford Motor Company announced plans to build a USD 3.5 billion lithium iron phosphate (LFP) battery plant in Marshall, Michigan, set to begin operations in 2026. This facility aims to produce 35 gigawatt-hours of LFP batteries annually, sufficient to power approximately 400,000 electric vehicles. By utilizing LFP technology, which is more affordable and uses abundant materials, Ford intends to offer lower-cost electric vehicle options, such as base models of the Mustang Mach-E and F-150 Lightning. This move aligns with the U.S. government's Inflation Reduction Act, which provides tax incentives for domestically produced batteries. The plant is expected to create 2,500 jobs, bolster the domestic supply chain, and support Ford's goal of producing 2 million electric vehicles globally by late 2026
