Ford, known for its legacy in the automotive industry, is now venturing into a new territory – battery storage systems. In a strategic move, the company announced plans to invest approximately $2 billion over the next two years to establish a battery storage business that will repurpose the capacity initially intended for electric vehicle batteries. These storage systems, utilizing cost-effective LFP batteries, are set to be employed in powering data centers and assisting in managing electricity demand on the grid.
The upcoming battery storage systems are scheduled to commence shipping in 2027, with Ford aiming to construct an annual capacity of 20GWh. By leveraging technology licensed from China’s CATL, Ford intends to produce lithium iron phosphate batteries, along with battery energy storage system modules and 20-foot DC container systems at its Kentucky factory.
Joining the ranks of automakers exploring the battery storage sector, Ford’s move parallels Tesla’s decade-long presence in the market, deploying substantial battery storage products each quarter. The company’s Vice President of Technology Platform Programs and EV Systems, Lisa Drake, highlighted the commercial grid customers as the primary target for this new business endeavor, with data centers and home storage products following suit.
Source: TechCrunch
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