Today we’ve been able to learn that Ford is going to invest $11.4 billion in two plants to produce batteries and electric cars. Bill Ford, president of the company, explained that those plants will be located in Tennessee and Kentucky (United States), together with SK Innovations.
This is the firm’s largest investment in its 118-year history, and in addition to its cars and batteries, the plants will create 11,000 jobs. The automobile sector’s transition to electric propulsion continues to gain momentum.
Ford to invest $11.4 billion in two new plants
The funding will be provided in partnership with South Korean energy firm SK Innovations, which will contribute $4.4 billion of the total and would become the project’s collaborator.
The company had already said that it would invest 30 billion dollars before 2025 in developing electric cars, and it is expected that 40% of its sales will be of this kind by 2030. Some of this money will go to the Valencian Community, where Ford is a part of a public-private collaboration in establishing a factory for batteries.
Two mega-factories to produce batteries and electric cars
The new Blue Oval City located in Stanton, Tennessee, will be a $5.6 billion mega-campus with 6,000 workers dedicated to creating electric versions of its F-family pickup trucks, in addition to producing batteries.
“Ford’s new Tennessee assembly plant is designed to be carbon neutral with zero waste to landfill once fully operational,” the officials from Ford state.
The other plant, called BlueOvalSK Battery Park, will be in Glendale, Kentucky, and 5.8 billion dollars will be dedicated to its development. 5,000 employees will be dedicated to creating the batteries for the future generation of Ford and Lincoln vehicles. Both are expected to be operational by 2025.