01:55 PM EDT, 07/08/2025 (MT Newswires) -- (Updates with comment from Ford in the fourth paragraph.)

Ford Motor's ( F ) battery facility under construction in Marshall, Michigan, is on course to qualify for a production tax credit, Bloomberg reported Tuesday, citing a company statement.

Executive Chair Bill Ford said in May the plant was "imperiled" by language in President Donald Trump's $3.4 trillion fiscal bill, which would have prohibited the company from licensing technology from China's Contemporary Amperex Technology because it was designated as a "foreign entity of concern," Bloomberg reported.

After the legislation reached the US Senate, those restrictions were eased, and Trump signed the bill into law on Friday, the report said.

"Ford is committed to making the best, most cost-effective batteries for the next generation of electric vehicles in the United States," a company spokesperson told MT Newswires. "BlueOval Battery Park Michigan is on track to qualify for the production tax credit," the spokesperson added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 11.71, Change: +0.12, Percent Change: +0.99