Together with South Korean battery maker SK Innovation (SKI), Ford is investing $11.4 billion on new plants, which aim to significantly increase regional battery cell production capacity in the US.
Ford Motor Company plans to increase its mark in the US electric vehicle supply chain by investing billions of dollars in three new battery plants and a pickup truck factory in Tennessee and Kentucky.
In partnership with South Korean battery maker SK Innovation (SKI), the ambitious project will cost Ford $11.4 billion – the largest ever US investment in electric vehicles at one time – and will also include efforts to decarbonise battery manufacturing and supply chain processes.
According to a company statement from Ford, the investment will include $5.6 billion for a ‘mega-campus’ in Stanton, Tenn., named Blue Oval City, which will house a BlueOvalSK battery plant – Ford’s joint venture with SKI – an assembly line for electric F-Series pickup trucks, key suppliers and recycling.
Ford SK Innovation will also be constructing a $5.8 billion BlueOvalSK Battery Park in Central Kentucky, which will involve “twin battery plants” to produce EV batteries for Ford’s North American assembly facilities rolling out electric Ford and Lincoln vehicles.
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