Ford Fuels Future with $2 Billion Investment in Battery Storage
American automotive giant Ford is pivoting from its large electric vehicle (EV) production plans to make a major investment in battery storage and energy retention. The company will manufacture cost-effective lithium iron phosphate (LFP) batteries to meet the growing demands of data centers and power grids, according to TechCrunch.
On Monday, Ford announced that it will invest nearly $2 billion over the next two years in this new venture. The LFP batteries will be produced at Ford’s Kentucky facility, with plans to bring them to market by 2027. The company aims to achieve an annual production capacity of 20 gigawatt-hours.
Ford will manufacture the batteries under a technology license from China’s CATL. While initially targeting commercial grid customers, senior Ford official Lisa Drake confirmed that the storage systems will also be available for data centers and residential use.
This move positions Ford in competition with rivals like Tesla and General Motors. Meanwhile, work on the company’s “BlueOval Battery Park” in Michigan is proceeding as scheduled, with production set to begin in 2026.
DBTech/BMT/OR
