Ford is building a new battery plant in Michigan in an effort to boost EV offerings.

Closing Bell

Ford To Build New Battery Plant In Part of $3B Investment Plan

Ford is building a new battery plant in michigan. It's planning to boost tv offerings. The new factory is part of a $3.5 billion investment from ford Ford shares are actually up today there at $13.08. The automaker expects the factory to create about 25 500 new jobs. These are positions that pay between $20 and $50 an hour. The facility will open in Marshall Michigan that's about 100 miles west of Detroit Ford also got a $210 million dollars state grant for this project. The company expects to be able to start producing batteries from multiple vehicle models in another three months or so now ford. It's just one of several automakers and partners that are building production facilities in the U. S. Now the U. S. Government is offering subsidies to offset the cost of these vehicle.