-- Ford Motor Co. and China's Contemporary Amperex Technology Co. Ltd. are considering building a plant in the U.S. to manufacture car batteries in an arrangement designed to take advantage of new tax benefits while sidestepping geopolitical sensitivities, Bloomberg reports, citing unnamed sources.

-- Potential locations include the states of Michigan and Virginia, Bloomberg reports, adding the plant will manufacture lithium iron phosphate batteries for Ford's electric models.

-- The companies are mulling a novel ownership structure that gives Ford 100% ownership of the plant, while providing CATL with operational rights and technological ownership, according to Bloomberg.

-- Ford and CATL, which also supplies batteries to Tesla Inc., in July signed a strategic agreement to jointly explore new opportunities in the global electric-car battery supply chain.

Full story: https://bloom.bg/3j59tsa

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

December 15, 2022 01:40 ET (06:40 GMT)

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