9/25, 9:59 PM (Source: TeleTrader)
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Ford halts work on $3.5B battery facility in Michigan

Ford Motor Company announced Monday that it has halted work on a $3.5 billion battery plant in Michigan.

According to the company, the pause is due to concerns about the company's ability to competitively manage the plant. The factory in question uses technology from CATL, the world's biggest battery manufacturer.

"We are pausing work and limiting spending on construction on the Marshall project until we're confident about our ability to competitively operate the plant," Ford said. "We haven't made any final decision about the planned investment there."

Baha Breaking News (BBN) / JG