Ford is pulling back on EVs and getting in on the AI boom with data center battery storage [Business Insider]
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Source: Business Insider
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in Ford's EV strategy shift just cost it $19.5 billion. Now, it's hoping to cash in on the AI boom. The company is converting an EV battery factory in Kentucky to build energy storage systems for AI data centers. The move will see Ford challenge Tesla, which has its own thriving energy storage business. EVs aren't really working out for Ford , so now it's chasing the AI boom instead. The Detroit auto giant said on Monday it would pull back from electric vehicles in a move that would cost the company $19.5 billion. In addition to scrapping planned electric models and building more hybrids, Ford said it would repurpose its EV battery factory in Kentucky to build batteries to power data centers and energy infrastructure. The Mustang maker added that it would invest $2 billion to scale the new energy storage business, which it said would "leve
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