Ford’s $2B EV investment & 5% revenue boost sparks hope for downstream aluminium amidst market turmoil
In a situation where companies like Novelis are facing the brunt of business closures and job cuts, US-headquartered Ford Motor is hitting the reset button on its EV strategy with a bold new plan, creating hope for the downstream aluminium industry in the region.
The automaker has unveiled a USD 2 billion investment in its Louisville, KY, Assembly plant, setting the stage for a lineup of next-generation, more affordable electric vehicles by 2027. This move signals optimism for the downstream aluminium industry, especially in the US region. At the heart of this transformation is the Ford Universal EV Platform, which is set to power a range of next-generation, more affordable electric vehicles by 2027.
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The weekly operating rate of aluminium processors rose by 0.8%, indicating a mild recovery in downstream consumption
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