Ford to lead US shift to electric vehicles with investment of £11.4bn

The US transition to electric vehicles will be facilitated by Ford’s massive investment of £11.4bn that will generate 11,000 jobs and power novel advanced electric vehicles.

With this sizeable investment, Ford will finance the opening of a new mega campus in Tennessee as well as twin battery plants in Kentucky. This will bring zero-emission electric vehicles to US consumers with the biggest, most cutting-edge, and most efficient auto production complex in the company’s century-long history.

The greatest investment into US electric vehicles

The novel environmentally and technologically progressive campuses in Tennessee and Kentucky will develop the next generation of electric F-Series trucks, as well as the batteries to power upcoming electric Ford and Lincoln vehicles.

This investment marks the largest investment into electric vehicles at any one time in US history by one automotive producer and, alongside SK Innovation, it plans to invest a staggering $11.4bn, which will facilitate the creation of almost 11,000 jobs at the sites in Tennessee and Kentucky.

Development of a mega campus

An innovative $5.6bn mega campus in Stanton, Tennessee, named Blue Oval City, will generate around 6,000 new jobs, and re-examine how both vehicles and batteries are manufactured.

Blue Oval City will take its place as an integrated ecosystem for Ford to construct an extended lineup of electric F-Series vehicles. On top of this, it will comprise a BlueOvalSK battery plant, key suppliers and recycling. Ford’s new Tennessee assembly plant has been uniquely created to be carbon neutral with zero waste to landfill when it is fully operational.

“West Tennessee is primed to deliver the workforce and quality of life needed to create the next great American success story with Ford Motor Company and SK Innovation,” commented Tennessee Governor Bill Lee. “This is a watershed moment for Tennesseans as we lead the future of the automotive industry and advanced manufacturing.”

Creating twin battery plants

Meanwhile, in central Kentucky, Ford intends to develop a devoted battery manufacturing complex with SK Innovation – the $5.8bn BlueOvalSK Battery Park – generating 5,000 jobs. Twin battery plants on the site are intended to supply Ford’s North American assembly plants with locally assembled batteries for powering next-generation electric Ford and Lincoln vehicles. Investments in the new Tennessee and Kentucky battery plants are planned to be made via BlueOvalSK, a new joint venture to be formed by Ford and SK Innovation, subject to definitive agreements, regulatory approvals and other conditions.

“We thank Ford Motor Company and SK Innovation for their investment in Team Kentucky,” added Kentucky Governor Andy Beshear. “This is the single largest investment in the history of our state, and this project solidifies our leadership role in the future of the automotive manufacturing industry. It will transform our economy, creating a better Kentucky, with more opportunities, for our families for generations. Our time is now. Our future is now.”

Industry-led shift to electric vehicles

“This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” explained Ford Executive Chair Bill Ford. “With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive – protect our planet, build great electric vehicles Americans will love and contribute to our nation’s prosperity.”

“This is our moment – our biggest investment ever – to help build a better future for America,” said Jim Farley, Ford president and CEO. “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.”

“We are proud to be partnering with Ford as they open a new chapter in automobile history,” added Dongseob Jee, president of battery business, SK Innovation. “We are excited to be taking this decisive leap together, as partners, and to bring about our common vision for a cleaner planet. Our joint venture, BlueOvalSK, will embody this spirit of collaboration. We look forward to growing our trust-based partnership by delivering on our market-leading value proposition, experience and cutting-edge.

“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,” concluded 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.”

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