Ford Motor Co. is expected to announce as soon as Monday it plans to build a new $3.5 billion lithium iron phosphate battery plant in Michigan, sources told Reuters.

The plant is expected to be located around Marshall, Michigan, and eventually employ at least 2,500 workers.

Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co. Ltd (CATL) as a technology partner to help develop the batteries, sources said.