Ford declares $11 Billion Investment to change EV future

ford investment

Ford announced a significant investment in electric vehicle production in the U.S. The company promised to build its largest-ever factory in Tennessee while building two new battery parks in Kentucky.  

The Dearborn-based company has partnered with its battery supplier, SK Innovation, to invest and create better eco-friendly vehicles and batteries. Under this declared investment by Ford, the carmaker plans to build zero-emission cars and pickups. This huge investment is expected to create 11,000 new jobs.  

Like its rivals, GM and Stellantis, by the year 203o, Ford also wants to have half the cars it sells to be zero-emissions and environmental friendly! The investment to be put in by the Government to achieve this milestone remains a matter of question! 

Ford said its Tennessee factory would be called Blue Oval City. The factory covering a six square mile area will be utilized to build next-generation pickup trucks and batteries and is expected to start manufacturing by 2025.  

The battery parks in Kentucky will power an upcoming line of Ford and Lincoln Electric vehicles. Recently, Ford had ramped up its investment in electric vehicle production in the Texas and Michigan plants. The new investment in Tennessee’s Blue Oval City is in partnership with SK Innovation, the South Korean battery maker.   

The EVs are still uncommon in the U.S., and it witnessed only 2% of new EV sales globally last year! 

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