Is Ford investing in the wrong type of EV technology?

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Another Big EV Battery Fantasy, Another Letdown — Anjani Trivedi There it is again: Another automaker makes a big announcement about its electrification plans with a battery manufacturer. Going by previous proclamations, that's not just ambitious, but it's also far-fetched. Ford Motor Co. and SK Innovation Co. announced they're partnering to spend $11.4 billion on three electric-car battery plants across the U.S., making it the most sizable investment in Ford's 118-year history. The deal to build the biggest battery plant ever in America would catapult the South Korean firm to the status of a leading battery maker in the U.S. and is also its largest single outlay. All very big. It comes at a time when President Joe Biden's administration has been talking up electric-vehicle subsidies, including tax credits. In addition, anything made in the U.S. or with higher domestic content, including battery cells, would get more government support. That's on top of a new national blueprint for lithium-ion batteries, making it perfect timing for Ford and SK's blockbuster investment. There's more to consider, however. Read the whole thing. Evergrande's Fall Shows How Xi Has Created a China Crisis — Niall Ferguson Singapore's Covid Response Overlooked a Major Factor: Fear — Rachel Rosenthal Manny Pacquiao Isn't the Hero the Philippines Needs — Matthew Brooker Unproven Covid Pills Could Be Biden's Secret Weapon — Max Nisen The High-Earner Tax Break That Democrats Forgot — Alexis Leondis Even the People's Bank of China Can't Kill Bitcoin FOMO — Lionel Laurent Wells Fargo Swapped Some Digits — Matt Levine Everything Is Getting Worse. So Buy Stocks, Obviously — John Authers If Anybody Can Lead Europe After Merkel, It's Super Mario — Andreas Kluth More From Bloomberg Opinion Here's what we've been talking about this week. Watch: Is New York Back? A Debate with Justin Fox and Noah Smith Watch: Should Facebook and YouTube Do More to Protect Kids? with Robert George and Tim Lavin Watch: Risks & Rewards with John Authers and Lisa Abramowicz Listen: "Follow the Science" with Faye Flam: Where Medicine Doesn't Follow the Science Listen: "Deep Background" with Noah Feldman: Violence, Recovery and Modern Jewish Life with Mark Oppenheimer This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership.

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