Michigan reduced Ford's tax incentives to $409.1 million from $1.03 billion, following Ford's downsized EV production plans and job cuts at the EV battery factory in Marshall.
Ford's budget cut included revoking $772.8 million in tax breaks and $100.8 million in grants for not meeting job creation goals at the Ford Rouge Electric Vehicle Center.
Ford still plans to begin production of lithium iron phosphate batteries in 2026 at the Marshall facility, with construction progress at approximately 20 percent.
In Q2, Ford's EV sales surged 61% year over year, positioning it as the U.S.'s second-largest EV seller, emphasizing increasing EV market competitiveness.
Collection
[
|
...
]