Ford Announces $11.4 Billion Investment in EV and Battery Plants at ‘Blue Oval City’
The 2021 Ford Mustang Mach-E
Ford Motor Co. said late Monday that it plans to invest over $11 billion to build three battery factories and an electric truck plant in the United States.
The move, which the company said was the largest investment in its 118-year history, will create 11,000 jobs over the next four years.
The automaker said that the investment would allow it to build over one million electric vehicles per year by the second half of this decade.
“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 the company’s chairman, Bill Ford, who added that it will allow Ford to achieve goals once thought mutually exclusive, namely to “protect our planet” and “build great electric vehicles.”
Blue Oval City, which will be located in Stanton, Tennessee, will be a $5.6 billion mega-campus that supports what Ford terms a “vertically integrated ecosystem” for the automaker to assemble an expanded lineup of electric F-Series trucks. It will also include a BlueOvalSK battery plant, with investment from Ford partner SK Innovation.
In addition, BlueOvalSK Battery Park, to be located in central Kentucky, is to feature twin battery manufacturing factories that will supply the automaker’s North American plants with locally-built batteries that will power new Ford and Lincoln EVs.
(Photo: Accura Media Group)
