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...Michigan offered $1.7bn in incentives to Ford for its battery plant using China’s CATL technology....
...Ford and General Motors have paused plans to expand their EV manufacturing capacity and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat this year....
...The factories are part of the emerging so-called battery belt in the South of the US, which has also received a boost from $369bn in tax credits made available under the IRA....
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...The downbeat outlook comes as automakers including Tesla, General Motors and Ford slow their EV factory expansions in expectation of weaker demand for cars owing to higher rates increasing financing costs...
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