Ford will scale back $3.5 billion battery plant

Ford announced it is cutting production capacity on its upcoming electric vehicle battery plant, amid cooling customer demand for purchasing EVs and rising labor costs. The automaker says it will reduce its original $3.5 billion planned investments to build the Michigan plant to somewhere around $2 billion and is now only expecting to hire 1,700 workers instead of 2,500. Ford will scale back $3.5 billion battery plant comes via ChinaTechNews.com.