Updated: 8h| Published: 23h
Ford is shifting its electric-vehicle battery factories into large-scale energy storage for AI data centers, repurposing its Glendale, Kentucky plant and investing $2 billion to scale a business it expects will deploy at least 20 GWh of storage capacity by the end of 2027 after announcing a broader reorganization that will carry about a $19.5 billion charge.The company said it will convert another battery plant in Michigan to make smaller units for residential use, dissolve its partnership with South Korea's SK On to take full ownership of BlueOval SK, and Chief Executive Jim Farley said the move responds to weakening EV demand as U.S. EV market share fell from roughly 12 percent to about five percent.As part of the restructuring Ford will cancel several high-end EV programs, stop producing the fully electric F-150 Lightning and instead offer an extended-range Lightning with a gasoline generator capable of up to 700 miles built at the Rouge Electric Vehicle Center in Dearborn, Michigan; executives said the plan will include roughly $5.5 billion in cash effects through 2027, at least 1,600 job cuts and targets to restore adjusted EBIT to about $7 billion in 2025 while preserving a path to Model e profitability by 2029.
Tags

#USA

#Dearborn

#JimFarley

#Ford

#SKOn

#BlueOvalSK

#F150Lightning

#ModelE

#AI

#DataCenters

Read more
The Verge CNBC NPR The Times Euronews Business Insider Le Monde
Discuss
Español
Français
Deutsch
Italiano
Svenska
2
Earth
USA
Europe
Tags

#F150Lightning

#

JimFarley

Ford is shifting its electric-vehicle battery factories into large-scale energy storage for AI data centers, repurposing its Glendale, Kentucky plant and investing $2 billion to scale a business it expects will deploy...

23h/8h
Threads Facebook X Instagram Bluesky
Terms Privacy
Stockholm, Sweden
+46 (0)8 525-171-42 Email