Recently, U.S. Transportation Secretary Sean Duffy publicly pressured Ford on the grounds of supply chain security and national security. He accused it of deep cooperation with Ningde Times , Geely and BYD , and asked Ford to cut off or reduce relevant cooperation and abandon Chinese battery technology. Shares of Ford fell more than 5% on Tuesday on the news.
In response, Ford hit back hard, denouncing Sean Duffy's false remarks and calling his actions a "wrong way to try to win attention", and then announced an additional $1 billion investment in American factories.
It is worth noting that Ford's cross-border energy storage track this year, relying on the Ningde era battery technology suppressed by the United States, set up an exclusive energy subsidiary to win 20 GWh heavy overseas energy storage orders. Chinese technology, rejected
by American politicians, has become the core card for Ford to break through the transformation and open up new growth points, which embarrasses the political suppression of the United States.
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