Ford announced that it is investing USD 3.5 billion to build the US’s first automaker backed LFP battery plant, offering customers a second battery technology within Ford’s EV lineup. This plant, called BlueOval Battery Park Michigan, initially will employ 2,500 people when production of LFP batteries begins in 2026. Ford will have the option to further grow its battery capacity at its Marshall Michigan plant, which will be part of a wholly owned Ford subsidiary.Offering LFP as second battery chemistry, in addition to nickel cobalt manganese, allows Ford customers to choose an electric vehicle with unique battery performance characteristics most aligned with their needs. LFP batteries are very durable and tolerate more frequent and faster charging while using fewer high-demand, high-cost materials. This lower-cost battery, at scale, will help Ford contain or even further reduce EV prices for customers. These LFP batteries will power a variety of affordable, next-generation Ford EV passenger vehicles and trucks under development, most of which will be assembled in the US.Even before the new battery plant opens, Ford will introduce LFP batteries on Mustang Mach-E this year and F-150 Lightning in 2024 to increase production capacity, with a goal of reducing wait times for customers.