Ford to invest $3.5 billion to build Michigan battery plant

(Reuters) – Ford Motor Co will build a new lithium iron phosphate battery plant in Michigan as part of a $3.5 billion investment plan, the automaker and state said Monday.

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FILE PHOTO: A Ford logo is seen on an electric vehicle charging point during a press event at the Ford Halewood transmissions plant in Liverpool

The plant will be located in Marshall, Michigan and eventually employ at least 2,500 workers. Reuters reported Friday Ford is expected to own and operate the plant with Chinese battery company China’s Contemporary Amperex Technology Co Ltd (CATL) as a technology partner to help develop the batteries, sources said.

(Reporting by David Shepardson)