Saying Ford is driving head-on into a future of electric vehicles may be an understatement. Think more along the line of hauling a-–.
The Detroit-based auto giant said Monday it will partner with SK Innovation to invest $11.4 billion to construct two “mega-sites” – one in Tennessee and the other in Kentucky — that will build electric trucks and batteries. Ford’s portion of the investment – $7 billion – is the largest manufacturing investment in the company’s 118-year-old history.
“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,” said Ford Executive Chairman Bill Ford, a long-time proponent of the push to electric vehicles. “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.”
Stanton, Tenn., will see the construction of Blue Oval City, which Ford says will aid in building an “expanded” electric-truck lineup. Currently, Ford has released the all-electric SUV called the Mach-E and soon will begin producing the all-electric F-150 Lightning. The 3,600-acre campus will cover nearly 6 square miles, at a total of $5.6 billion. It’s expected to create 6,000 jobs.
Ford did not provide an opening date for the site.
Click here to read the full story from Brian Sozzi at Yahoo Finance.
