Mentioned:
Ford is getting in on the battery business. But, why?
What’s happening:
- Ford (NYSE: F) has officially launched a new subsidiary known as Ford Energy to develop large scale battery energy storage systems
Why it matters:
- This is the first time ever that Ford has launched a new wholly owned subsidiary to manufacture and produce their own battery energy storage systems
Going deeper:
- Ford Energy’s initial flagship product is the Ford Energy DC Block which is a 20 foot containerized battery system that uses lithium iron phosphate prismatic cells
- Ford has publicly stated that Ford Energy is aiming to deploy a minimum of 20 gigawatt-hours of battery energy storage systems annually by repurposing an existing manufacturing facility located in Kentucky
The intrigue:
- Ford has also publicly stated they plan to sell their Ford Energy DC Block product to utility companies, large operators of commercial factories and even data centres located in the United States
