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Ford Announces Huge Investment in EV Plants
Ford Motor Co. has said that it plans to invest over $11 billion dollars to build three battery factories and an electric truck plant in the US.
The move represents the largest investment in the company’s 118-year history, creating 11,000 jobs over the next four years.
Ford‘s hope is that the new plant will enable them to build over one million electric vehicles per year by the second half of this decade.
This lines up with its ambition – like rivals General Motors and Stellantis – for half of the cars it sells to be zero emission by 2030.
Blue Oval City, which will be located in Stanton, Tennessee, will be a $5.6 billion mega-campus that supports what Ford deems a “vertically integrated ecosystem” for the automaker to assemble an expanded lineup of electric F-Series trucks.
It will also include a BlueOvalSK battery plant, with investment from Ford partner SK Innovation.
In addition, BlueOvalSK Battery Park, to be located in central Kentucky, will feature twin battery manufacturing plants that will supply the automaker’s North American plants with locally-built batteries that will power new Ford and Lincoln EVs.
Jim Farley, Ford’s President and Chief Executive, said in a statement: “This is our moment – our biggest investment ever – to help build a better future for America.
“We are moving now to deliver breakthrough electric vehicles for the many rather than the few.
“It’s about creating good jobs that support American families, an ultra-efficient, carbon-neutral manufacturing system, and a growing business that delivers value for communities, dealers and shareholders.”
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The company also envisions Blue Oval City as one day getting power from geothermal, solar, or wind power, and is designed with those energy sources in mind as the company makes further pushes into sustainability across its operations.
“Blue Oval City’s assembly plant will harness Ford’s global manufacturing expertise and cutting-edge technologies to deliver cost efficiencies and the quality that our customers expect,” said Kumar Galhotra, Ford president, Americas & International Markets Group.
“This will enable Ford to lead in the race to bring dependable, affordable and advanced electric vehicles to even more Americans.”
