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close video Ford announces return to Formula 1 racing

Ford President and CEO Jim Farley and Formula 1 CEO Stefano Domernicali discuss Ford’s growth in the auto industry and employment and announce its return to Formula 1 racing.

Ford is investing $3.5 billion to build a factory in Michigan that will produce low-cost batteries for some of its electric vehicles, the automaker announced Monday.

The facility will be located at a greenfield site in the city of Marshall and initially create 2,500 jobs as it ramps toward the start of production in 2026.

It will manufacture nickel cobalt manganese (NCM) cells, which are cheaper to produce, but have a lower energy density than the lithium iron phosphate (LFP) chemistry currently used in all of Ford's electric models.

The project will be fully-owned by a Ford subsidiary, but will use technology licensed from Chinese battery company Contemporary Amperex Technology Co., Limited (CATL).

FORD IS RETURNING TO F1 TO HELP SELL ELECTRIC CARS, CEO FARLEY SAYS

The nickel cobalt manganese batteries will replace lithium iron phosphate batteries in some applications. (Ford)

The factory is one of four battery plants across three states Ford has announced. In January, Virginia governor Gov. Glenn Youngkin said he had removed Virginia from consideration for the LFP factory due to concerns about the Chinese connection, but Ford said no final decision had been made at that time.

"Today’s generational investment by an American icon will uplift local families, small businesses, and the entire community and help our state continue leading the future of mobility and electrification," said Michigan Governor Gretchen Whitmer. "Let’s continue bringing the supply chain of electric vehicles, chips, and batteries home while creating thousands of good-paying jobs and revitalizing every region of our state."

The standard range Ford Mustang Mach-E is currently rated for 247 miles of driving between charges. (Ford / Fox News)

Lisa Drake, vice president, EV Industrialization Ford Model e, said the factory will have an 35 gigawatt-hour annual capacity, which will be enough to supply 400,000 electric vehicles.

Ford will begin using imported LFP packs supplied by CATL later this year in certain versions of the Mustang Mach-E SUV and next year in the F-150 Lightning before switching to the locally-produced packs.

FORD VS. GM: A TALE OF TWO AUTOMAKERS

The LFP cells will replace the NCM technology that is used in entry level Standard Range models, while NCM will continue to be used in longer range and higher power applications, said Marin Gjaja chief customer officer Ford Model e.

The F-150 Lightning is exclusively built in Michigan today. (Emily Elconin/Bloomberg via Getty Images / Getty Images)

The LFP batteries are also more durable, less susceptible to fire and can be regularly fast charged to 100% full, while NCM batteries are typically restricted to an 80% fast charge to protect them from damage.

A standard range Mustang Mach-E that can go 247 miles per charge currently starts at $47,495 while the lowest-priced F-150 Lightning Pro work truck rated at 240 miles of range is $57,869.

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Gjaja did not share specifics on pricing for the LFP-equipped vehicles, but said that the "intent is to make them more affordable and accessible."

This story has been updated with additional details

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World

Inside Iran’s notorious Evin Prison – as Tehran says damage shows Israel targeted civilians

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Inside Iran's notorious Evin Prison - as Tehran says damage shows Israel targeted civilians

It is one of the most notorious and secret places in Iran.

Somewhere foreign journalists are never allowed to visit or film. The prison where dissidents and critics of Iran’s government disappear – some never to be seen again.

But we went there today, invited by Iranian authorities eager to show the damage done there by Israel.

Evin Prison was hit by Israeli airstrikes the day before a ceasefire ended a 12-day war with Iran. The damage is much greater than thought at the time.

Evin Prison, Iran

We walked through what’s left of its gates, now a mass of rubble and twisted metal, among just a handful of foreign news media allowed in.

A few hundred yards in, we were shown a building Iranians say was the prison’s hospital.

Behind iron bars, every one of the building’s windows had been blown in. Medical equipment and hospital beds had been ripped apart and shredded.

What Iran says was the hospital at the Evin Prison
Image:
Debris scattered across what Iran says was the prison hospital

It felt eerie being somewhere normally shut off to the outside world.

On the hill above us, untouched by the airstrikes, the buildings where inmates are incarcerated in reportedly horrific conditions, ominous watch towers silhouetted against the sky.

Evin felt rundown and neglected. There was something ineffably sad and oppressive about the atmosphere as we wandered through the compound.

The Iranians had their reasons to bring us here. The authorities say at least 71 people were killed in the air strikes, some of them inmates, but also visiting family members.

The visitor centre at Evin Prison after Israeli attacks
Image:
Authorities say this building was the visitor centre


Iran says this is evidence that Israel was not just targeting military or nuclear sites but civilian locations too.

But the press visit highlighted the prison’s notoriety too.

Iran’s critics and human rights groups say Evin is synonymous with the brutal oppression of political prisoners and opponents, and its practice of hostage diplomacy too.

British dual nationals, including Nazanin Zaghari-Ratcliffe were held here for years before being released in 2022 in exchange for concessions from the UK.

Read more:
Iran: Still a chance for peace talks with US
Why Netanyahu wants a 60-day ceasefire – analysis

The main complex holding prisoners sits atop a hill
Image:
Inmates are held in building on a hill above, which has been untouched by airstrikes

Interviewed about the Israeli airstrikes at the time, Ms Zaghari-Ratcliffe showed only characteristic empathy with her former fellow inmates. Trapped in their cells, she said they must have been terrified.

The Israelis have not fully explained why they put Evin on their target list, but on the same day, the Israeli military said it was “attacking regime targets and government repression bodies in the heart of Tehran”.

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The locus of their strikes were the prison’s two entrances. If they were trying to enable a jailbreak, they failed. No one is reported to have escaped, several inmates are thought to have died.

The breaches the Israeli missiles made in the jail’s perimeter are being closed again quickly. We filmed as a team of masons worked to shut off the outside world again, brick by brick.

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Environment

Tesla prototype sparks speculation: a Model Y, maybe slightly smaller

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Tesla prototype sparks speculation: a Model Y, maybe slightly smaller

A new Tesla prototype was spotted again, reigniting speculation among Tesla shareholders, even though it’s likely just a Model Y, potentially a bit smaller, and the upcoming stripped-down, cheaper version.

Over the last few months, there have been several sightings of what appears to be a Model Y with camouflage around Tesla’s Fremont factory.

It sparked a lot of speculation about it being the new “affordable” compact Tesla vehicle.

There’s confusion in the Tesla community around Tesla’s upcoming “affordable” vehicles because CEO Elon Musk falsely denied a report last year about Tesla’s “$25,000” EV model being canceled.

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The facts are that Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla” in early 2024. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.

Instead, Musk noticed that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as the Company faced demand issues. Therefore, Tesla canceled the vehicles program based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.

We previously reported that these electric vehicles will likely look very similar to Model 3 and Model Y.

In recent months, several other media reports reinforced this, and Tesla all but confirmed it during its latest earnings call, when it stated that it is “limited in how different vehicles can be when built on the same production lines.”

Now, the same Tesla prototype has been spotted over the last few days, and it sent the Tesla shareholders community into a frenzy of speculations:

Electrek’s Take

As we have repeatedly reported over the last year, the new “affordable” Tesla “models” coming are basically only stripped-down Model 3 and Model Y vehicles.

They might end up being a little smaller by a few inches, and Tesla may use different model names, but they will be extremely similar.

If this is it, which is possible, you can see it looks almost exactly like a Model Y.

It’s hard to confirm if it’s indeed smaller because of the angle of the vehicle compared to the other Model Ys, but it’s not impossible that the wheelbase is a bit smaller – although it’s hard to confirm.

Either way, the most significant changes for these stripped-down, more affordable “models” are expected to be cheaper interior materials, like textile seats instead of vegan leather, no heated or ventilated seats standard, no rear screen, maybe even no double-panned acoustic glass and a lesser audio system.

As previously stated, the real goal of these new variants, or models, is to lower the average sale price in order to combat decreasing demand and maintain or increase the utilization rate of Tesla’s current production lines, which have been throttled down in the last few years to now about 60% utilization.

If this trend continues, Tesla would find itself in trouble and may even have to close its factories.

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Politics

US Senator Lummis’s crypto tax relief plan fuels DeFi momentum: Finance Redefined

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US Senator Lummis’s crypto tax relief plan fuels DeFi momentum: Finance Redefined

US Senator Lummis’s crypto tax relief plan fuels DeFi momentum: Finance Redefined

Increasing US regulatory clarity is enabling more traditional finance participants to seek out decentralized financial solutions.

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