Ford will own the new facility through a wholly owned subsidiary instead of operating it as a joint venture, which Ford has done with non-China partners.
The anticipated announcement of the deal between Ford and Contemporary Amperex Technology Co., or CATL, follows Virginia Gov. Glenn Youngkin saying he wasfrom a competitive process to attract the planned Ford plant over its connection to the Chinese company.
"The LFP technology is already here in the U.S. It's in a lot of consumer electronics devices, it's actually in another OEM product, but, unfortunately, it's always imported," Drake said during a media call. "This project is aimed at de-risking that by actually building out the capacity and the capability to scale this technology in the United States, where Ford has control.
Drake said Ford is not necessarily concerned about the Chinese government interfering with the deal, saying the companies "certainly thought through that and those are provisions," including optionality in the contract.
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