CATL is considering building a “multi-billion dollar” battery plant in the US to supply Ford’s electric vehicles with affordable lithium iron phosphate batteries, Bloomberg reported on Wednesday. The US automaker is exploring the possibility of owning 100% of the facility and allowing the Chinese battery maker to operate with its own technology. In this way, the facility would qualify for significant tax credits under the new Inflation Reduction Act, and CATL would not have to make direct investments in the US, something Beijing has indicated discomfort with, according to the report. Planning for the facility is still fluid given the lack of clear guidance on the bill and the exact location for any potential plant remains undecided, sources said. [Bloomberg]
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