to use its battery technology to make batteries in a building owned and operated by Ford. Senator Rubio is crying foul and has filed a bill in the Senate to block the Ford/CATL deal. Isn’t politics fun?is hopping mad that his focus on Made In America is being diluted, but even he is reluctant to throw in with the lunatics now controlling the Republican Party, so he can fume all he wants — the deal is done and there is no going back now.
After Salzgitter and Valencia, this will be the third Volkswagen Group owned battery factory worldwide and PowerCo’s first cell factory in North America. It will provide batteries for EVs in the region with cutting edge battery cells and is part of a larger plan that Volkswagen and PowerCo. Canada offers ideal conditions, including the local supply of raw materials and wide access to clean electricity.
Economics being what they are, corporations will always seek the lowest cost route. While those incentives are crucial, they also mean companies may have to pay higher wages and taxes in the US, blunting the advantages conferred by those incentives. CATL has built a supply chain in China that is so much cheaper than what it costs to manufacture batteries in the US that it could still undercut its competitors even after those incentives are applied.
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Source: Reuters - 🏆 2. / 97 Read more »
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