Ford announces the largest investment in its history

Ford announces the largest investment in its history

Ford Motor, for the impressive amount of 11.4 billion US dollars, will build from scratch a mega complex for the production of electric cars and batteries for them. The company calls it the largest investment in its history.

Ford announces the largest investment in its history

Ford says it is working on the project with its battery production partner – South Korean industrial company SK Innovation. Of the total amount, the carmaker will invest about seven billion.

The plan involves the creation of two huge production complexes in the United States, the size of which is reminiscent of the way car factories were once built. The first complex, called Blue Oval City, will be built near Stanton, Tennessee, and will cover six square miles (about 1,554 acres)!

This territory will host an assembly plant for the production of state-of-the-art electric pickups (the current Ford F-150 Lightning will be produced in Michigan), a company for the production of BlueOvalSK batteries (with a capacity of 43 GWh per year), as well as other platforms for large suppliers. The entire complex will cost $ 5.6 billion and open 6,000 new jobs.

A second mega plant will be built near the town of Glendale (in neighboring Kentucky) and will include two companies identical to BlueOvalSK, which will be responsible for producing batteries for future Ford and Lincoln electric cars. This complex will occupy 600 hectares, cost 5.8 billion and open 5,000 new jobs.

Ford also promises to organize a state-of-the-art production process with the active use of alternative energy sources, so that all platforms are completely carbon neutral. Their commissioning is set for 2025.

Thus, Ford will gain additional capacity for battery production – 129 GWh per year. In parallel, together with Redwood Materials, battery recycling companies will be organized, and in total, by 2025, Ford and its partners intend to invest $ 30 billion in electric vehicles.

At the same time, there is still no question of a complete transition to battery-powered cars. Ford expects electric vehicles to account for only 40-50% of the company’s global sales by 2030.

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