Ford, GM supplier signs deal to build BYD batteries

AutoExec Summary
BorgWarner, a major supplier to Ford, GM and Stellantis, has secured a deal with BYD to access its lithium iron phosphate (LFP) battery tech for commercial vehicles in Europe, the Americas, and select regions of Asia Pacific. The deal grants BorgWarner rights to localise LFP battery packs and access to FinDreams’ intellectual property. However, the deal could face challenges due to the Inflation Reduction Act and its restrictions on tax breaks for vehicles containing battery components from certain foreign entities of concern.

Brands mentioned: Ford, GM, Stellantis, BYD, Toyota, Tesla, Kia, SsangYong, Mercedes-Benz.