Ford and SK to invest $ 11.4 billion in F-150 EV plant and three battery plants

Ford Motor Company and its Korean battery partner SK Innovation are jointly investing $ 11.4 billion to build an F-150 electric pickup assembly plant and three battery factories in the United States. The source notes that this is the largest production investment in Ford's 118-year history.

Enterprises will start operating in 2025. Their opening will create almost 11,000 new jobs. The assembly and battery facility in Tennessee alone will be about three times larger than the Ford Rouge facility in Dearborn, Michigan, which has a history of nearly 100 years. Moreover, there will be room for further expansion at the chosen site.

The construction is part of Ford's previously announced plan to spend more than $ 30 billion in electrification by 2030. In this case, the American automaker is investing $ 7 billion, the remaining $ 4.4 billion - SK Innovation.

According to Ford, by 2030, 40% to 50% of cars produced by the company worldwide will be fully electric. Previously, the company hoped to reach 40% within the specified period.

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