"It is way too early in the battery race to commit to one type of battery chemistry," said Miller. "In the span of 15 years, the industry has gone from lead-acid to nickel-metal-hydride to the lithium-ion batteries used in Ford C-MAX and Ford Fusion hybrids on the road today. Others in the auto industry have placed their bets, but we are convinced a better solution will require input from a multitude of partners."
Ford's electrified vehicle lineup includes five models equipped with advanced lithium-ion batteries. Earlier-generation vehicles featured nickel-metal-hydride batteries. Lithium-ion batteries are about 25 percent to 30 percent smaller, and can provide about three times the power per cell of nickel-metal-hydride batteries.
Miller said locating the lab on a university campus will be a draw for battery suppliers to work on complex problems in a common environment. "We need to work on these problems together in a neutral lab setting," he said. "This way, we all win. I think you are going to see a lot of companies in the battery supply chain come to Michigan to use this facility, in very short order.
"This is important for the state of Michigan, too," Miller added. "Previous investments have been focused on battery production, and now our state becomes a research core for batteries. The University of Michigan benefits, because the best and brightest from car companies, suppliers and academia will come here. In turn, that will attract the best students. We need to nurture the next generation of battery scientists, and it helps Ford that the campus is less than 40 miles from Dearborn."About Ford Motor Company Ford Motor Company (NYSE: F) , a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 177,000 employees and 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit http://corporate.ford.com . SOURCE Ford Motor Company
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV