Ford Poured Billions Into Two EV Battery Plants. It’s Only Using Part of One.

Ford Motor F -0.28%decrease; red down pointing triangle is pulling back more on its electric vehicle ambitions, letting rival Nissan 7201 1.45%increase; green up pointing triangle use part of its flagship U.S. battery plant, according to people familiar with the plan. 

Ford made a big bet on electric vehicles in 2021, announcing two new battery plants in Kentucky as part of a bigger $7 billion investment. The plants are a joint venture with Korean battery maker SK On.  

Today, one of the Kentucky factories is sitting unused, and only part of the other factory is producing batteries for Ford. The active plant will now also make Nissan batteries, according to the people.