EV production subsidies - Teen mental health survey - Moldova alleges Russian coup

Source: Bloomberg

1. Summary
   On Monday Ford announced it would spend $3.5 billion to build an electric vehicle battery plant in Michigan. Ford is partnering with Chinese firm CATL for the plant. The plant will manufacture lithium-iron-phosphate (LFP) batteries, a technology originally developed in China that is cheaper than the traditional batteries Ford uses in its EVs.
   
   The plant will remain a wholly owned subsidiary of Ford, but technology will be licensed from CATL. Ford hopes the ownership structure will avert political risks and make it eligible for significant federal subsidies for EV production. The Inflation Reduction Act, passed last year, ties the subsidies to certain requirements for domestic production.
   
   Last month Virginia withdrew its candidacy to host the plant, citing concerns about the connection to China. Michigan, in contrast, approved over $1 billion in incentives over 15 years to win the site. Ford has promised to make it easy for workers to unionize and jobs at the plant are projected to pay $20-$50 an hour.

   Highly-rated - last 48 hrs
   Ford will build $3.5 billion battery factory in Michigan that Virginia governor rejected.
   Fox Business (Moderate Right) • Factual Grade 77% • 3 min read
   

1. Different political viewpoint
   Ford to build battery plant in Michigan in drive with Chinese tech partner.
   Reuters (Center) • Factual Grade 75% • 3 min read

1. Selected long-read
   The Inflation Reduction Act could make qualifying for EV tax credits nearly impossible. (2022)
   The Conversation (Center) • Factual Grade 86% • 5 min read

Moldovan President Maia Sandu has accused Russia of planning to overthrow its pro-European government. Sandu says the plot is intended to stop Moldova, which is currently...

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Cambodian Prime Minister Hun Sen, who is among the world's longest-serving leaders, on Monday revoked the Voice of Democracy's media license. VOD...

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The latest iteration of the CDC's Youth Risk Behavior Survey shows worsening mental health problems among U.S. teenagers. The survey, which covers 2021, reports that 1 in 3 teenag...

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