Ford Motor Company has announced several electric vehicle investment projects so far this year, but the automaker’s latest is on a whole other level.
On Sept. 27, the company unveiled plans for an $11.4 billion project that is expected to create nearly 11,000 new jobs.
In what Ford says is “the largest ever U.S. investment in electric vehicles at one time by any automotive manufacturer,” the company plans to build two major manufacturing campuses at sites in Tennessee and Kentucky that will support demand for Ford’s F-150 Lightning truck, E-Transit, and Mustang Mach-E EVs, along with the batteries that will power them.
In Stanton, Tennessee, Ford will build a $5.6 billion production campus it has dubbed “Blue Oval City.” The 3,600-acre hub will serve as an assembly complex for the company’s electric F-Series vehicles. The campus, set to be carbon-neutral, is expected to house about 6,000 employees.
In central Kentucky, Ford and its South Korea-based EV battery partner, SK Innovation, will establish the 1,500-acre BlueOvalSK Battery Park, a $5.8 billion investment that will create twin battery factories in the Louisville suburb of Glendale. About 5,000 employees will staff those facilities, which are expected to open in 2025.
Overall, Ford said its share of the total investment would be approximately $7 billion, and that the project is part of the company’s plans for more than $30 billion of investment in EVs by 2025. This past summer, Ford said it forecasts that 40% to 50% of its worldwide vehicle sales will be from fully electric vehicles by 2030.
“This is our moment — our biggest investment ever — to help build a better future for America,” Ford President and CEO Jim Farley said in a news release. “We are moving now to deliver breakthrough electric vehicles for the many rather than the few. It’s about creating good jobs that support American families, an ultra-efficient, carbon-neutral manufacturing system, and a growing business that delivers value for communities, dealers, and shareholders.”
Ford’s announcement also said the company would invest $90 million in Texas to boost job training and career readiness for auto technicians. It’s part of a broader $525 million investment across the U.S. to empower a pipeline of EV technicians.The news came five days after Ford announced an EV battery recycling partnership with battery materials supplier Redwood Materials. That venture aims to localize the EV battery supply chain and create new recycling options for EVs and their lithium-ion batteries.