(LEX 18) — Ford Motor Company announced Monday, it will bring two new campuses to Kentucky and Tennessee that will produce the next generation of electric F-Series trucks and the batteries to power future electric Ford and Lincoln vehicles.
Ford along with SK Innovation "plans to invest $11.4 billion and create nearly 11,000 new jobs at the Tennessee and Kentucky mega-sites, strengthening local communities and building on Ford’s position as America’s leading employer of hourly autoworkers."
In Glendale, Ky, Ford plans to build a battery manufacturing complex with SK Innovation – the $5.8 billion BlueOvalSK Battery Park – creating 5,000 jobs.
The campus is projected to open in 2025.
“We thank Ford Motor Company and SK Innovation for their investment in Team Kentucky,” said Kentucky Gov. Andy Beshear. “This is the single largest investment in the history of our state and this project solidifies our leadership role in the future of the automotive manufacturing industry. It will transform our economy, creating a better Kentucky, with more opportunities, for our families for generations. Our economy is on fire – or maybe it’s electric. Our time is now. Our future is now.”
In Stanton, TN an all-new $5.6 billion mega campus will create approximately 6,000 new jobs.
Ford’s $7 billion of the $11.4 billion investment is the largest manufacturing investment in the company’s 118-year 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 Chair Bill Ford. “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.”
Part of Ford’s more-than-$30 billion investment in electric vehicles through 2025, this investment supports the company’s longer-term goal to create a sustainable American manufacturing ecosystem and to accelerate its progress towards achieving carbon neutrality, backed by science-based targets in line with the Paris Climate Agreement. Overall, Ford expects 40% to 50% of its global vehicle volume to be fully electric by 2030.