Ford and battery maker SK Innovation plan to invest more than $11.4 billion in new USA plants that will create nearly 11,000 jobs building electric vehicles and batteries.
Ford called it the largest single investment in new manufacturing plants in its 118-year history.
Key details
- About $5.6 billion will go to BlueOval City in Stanton, Tennessee. The 3,600-acre campus will have a battery plant, supplier park, recycling center and an assembly plant for electric F-Series trucks.
- About $5.8 billion will go to twin battery plants in Glendale, Kentucky, through the BlueOvalSK joint venture.
- Ford will cover about $7 billion of the total.
- The three battery plants will give Ford 129 GWh a year of USA capacity, enough for 1 million EVs.
- Most production is expected to start in 2025, with the second Kentucky battery plant in 2026.
“We are announcing the largest single investment in new manufacturing facilities in the 118-year history of Ford.”
Lisa Drake, North America chief operating officer, Ford
FAQ
How much will Ford and SK invest?
More than $11.4 billion.
Where are the plants?
Stanton, Tennessee, and Glendale, Kentucky.
How many jobs?
Nearly 11,000.
Source & credit
Source: CNBC, September 27, 2021: “Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV and battery plants”.