09-28-2021, 10:14 AM
Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV and battery plants
- The investment includes two lithium-ion battery plants in central Kentucky and a 3,600-acre campus in west Tennessee called Blue Oval City.
- The plans bolster President Joe Biden’s call for companies to onshore supply chains amid a global shortage of semiconductor chips that has disrupted several industries, including automotive.
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DETROIT – Ford Motor and battery supplier SK Innovation plan to invest more than $11.4 billion in new U.S. facilities that will create nearly 11,000 jobs to produce electric vehicles and batteries.
Ford is building twin lithium-ion battery plants in central Kentucky through a joint venture with South Korea-based SK called BlueOvalSK as well as a massive 3,600-acre campus in west Tennessee, the automaker said Monday night. The campus will include another a battery plant built with SK along with a supplier park, recycling center and a new assembly plant for electric F-Series trucks, Ford CEO Jim Farley told CNBC.
The plans are the latest of Ford’s to increase development and production of electric vehicles — including batteries — under Farley, who began leading the automaker a year ago this week. They also bolster President Joe Biden’s call for companies to onshore supply chains amid a global shortage of semiconductor chips that has disrupted several industries, including automotive.
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