Ford making its biggest single manufacturing investment ever to build electric vehicle factories
CNN
Ford Motor Co. and South Korea-based energy company SK Innovations are investing $11.4 billion to build two new enormous manufacturing campuses for electric vehicles, creating more than 10,000 new jobs and representing Ford's largest-ever single manufacturing investment in the company's 118-year history.
Ford's share of the investment will be $7 billion, Ford executives said. Ford previously announced it will spend $30 billion by 2025 on its shift to building more electric vehicles and that it expects 40% of its sales, worldwide, to be fully electric vehicles by 2030.
The two sites, one in Kentucky and one in Tennessee, will employ a total of a total of about 11,000 people, and between them, the sites will include three electric vehicle battery manufacturing plants and a factory to build electric pickup trucks.
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