Ford announced Monday that it will invest $11.4 billion (more than €9.7 billion) in the production of electric cars. The company will also build four new factories that will create around 11,000 new jobs by 2025.
Ford and its South Korean partner SK Innovation will build plants in the US states of Kentucky and Tennessee, the automaker said in a statement. Ford will invest $7 billion. That’s part of the $30 billion investment announced last spring. SK Innovation matches the rest.
Ford makes it clear that it is the “largest, most advanced and most efficient car production complex” in its 118-year history. With this, the car manufacturer in the US thinks it will play a pioneering role in the shift to electric cars. The Tennessee complex will be named ‘Blue Oval City’. The next generation electric Ford F-150 is being built here, but also new battery technology is being worked on. A new battery factory will also be built here, and two will be built in Kentucky. They should be operational by 2025.
“This investment supports the company’s long-term goal of creating a sustainable U.S. manufacturing ecosystem and achieving carbon neutrality faster,” said Ford. The company expects between 40 and 50 percent of its global vehicles to be fully electric by 2030.
– Thanks for information from Autoweek.nl