News Summary

Ford is launching a new battery storage business, repurposing its manufacturing capacity to produce lithium iron phosphate (LFP) batteries for data centers and the electric grid. The automaker plans to invest $2 billion over the next two years to build 20GWh of annual capacity. Ford will utilize its Kentucky factory for this initiative, leveraging technology licensed from China’s CATL. The company aims to cater primarily to commercial grid customers, with data centers as a secondary focus, and potential home storage offerings in the future. This move aligns Ford with other automakers like Tesla and General Motors in the battery storage sector.