Ford’s Deal With CATL Provides a Leg Up in Storage Business (1)

Ford Motor Co. cut back its EV plans last week in a major announcement, but it simultaneously placed a big bet on a new business line: producing batteries for energy storage.

The pivot was made possible by Ford’s unique access to Chinese technology. When it set out to delve deeper into the EV battery business in 2023, the company inked a deal with Chinese battery juggernaut Contemporary Amperex Technology Co. Ltd. to license its lithium iron phosphate (LFP) technology. Under the new plan, it will leverage the same deal to produce larger-scale batteries for stationary storage.

“Given the fact that ...