On Monday, Ford Motor Company announced a huge investment to produce electric cars in Kentucky and Tennessee. It will invest US$11.4 billion with its partner SK Innovation and create approximately 11,000 new jobs in the region to manufacture electric F-series pickup trucks and battery packs.
“This is our moment-our biggest investment in history-to help the United States build a better future,” said Jim Farley, Ford President and CEO. “We are now working to provide breakthrough electric vehicles for the majority, not the minority. This is to create good jobs that support American families, super-efficient, carbon-neutral manufacturing systems, and create value for communities and dealers. Growing business and shareholders.”
The Blue Oval in Stanton, Tennessee will cost $5.6 billion and cover 3,600 acres (14.6 kilometers)2) The park includes an electric pickup truck assembly plant and a joint venture BlueOvalSK battery plant. The two companies stated that this will create nearly 6,000 new jobs, and that the plant is designed to be carbon-neutral, and once it is put into operation, it will not generate landfill waste.
Near Glendale in central Kentucky, the two companies will build a pair of BlueOvalSK battery plants on 1,500 acres (6.1 kilometers) of land.2) The park will manufacture battery packs for Ford and Lincoln pure electric vehicles. The Kentucky campus will cost $5.8 billion and will add 5,000 jobs to the area.
Each BlueOvalSK battery factory should be able to produce 43 GWh of batteries per year, providing Ford with 129 GWh of domestic battery production.