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00:02Ford shares jumped 13% on Wednesday after Morgan Stanley highlighted the automaker's energy
00:08storage business and its partnership with Chinese battery maker CATL, according to Reuters.
00:14Ford launched the wholly-owned subsidiary late last year after recording a $19.5 billion write-down
00:21on its EV programs in December. The company plans to use plant space in Kentucky that
00:27was previously intended for EV battery production. Morgan Stanley said Ford's relationship with CATL
00:33is an underappreciated competitive advantage and expects the automaker to sign supply agreements
00:39with large commercial customers in the coming months. Ford is investing $2 billion in the
00:45business and expects first customer deliveries in late 2027 with annual deployment of at least
00:5020 gigawatt hours. For all things money, visit Benzinga.com.
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