State slashes Ford incentives after EV projects shrink.

Michigan has reduced its incentives package to Ford Motor Co. by over half after the automaker scaled back its electric vehicle (EV) projects to match demand. Ford will now receive tax incentives worth a maximum of $409.1 million instead of $1.03 billion for its EV battery plant in Marshall. The reductions align with Ford's project scaling back from $3.5 billion and 2,500 jobs to a new range of $2.5 billion-$3 billion and 1,700-2,100 jobs. The state is also rescinding a $100.8 million grant due to job creation falling short at the Rouge Electric Vehicle Center. Despite this, Ford has met its job creation and investment commitments elsewhere. The plant in Marshall is still expected to begin production of lithium iron phosphate batteries in 2026. [Extracted from the article]