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Ford makes big shift into energy storage to keep battery plants busy
Ford is entering the battery energy storage system business, called Ford Energy, to repurpose a Kentucky factory originally planned for EV battery production, due to slower-than-expected electric vehicle sales. The company will produce large-scale energy storage units for utility companies and data centers, facing competition from established players like Tesla. Ford believes its manufacturing expertise and licensing of CATL technology give it an advantage in this new venture.