US Falls Behind China in EV Production, Says Ford Chairman.

Ford Executive Chairman Bill Ford said the US cannot compete with China in EV production yet, as China has developed EVs quickly and at large scale. Ford's new $3.5 billion EV battery plant in Michigan will build LFP cells under license from China's CATL, allowing Ford engineers to learn the technology and use it themselves. Ford CEO Jim Farley said last month that Chinese EV makers are the company's main rivals in the sector, and that the automaker needs lower costs or distinct branding to beat Chinese automakers.