Conventional car manufacturers are increasing their all-electric game.
Ford is building three new electric car battery plants, one in Tennessee and two in Kentucky, with ambitions to take the lead in all-car electric space over the next decade, in a $ 11.4 billion deal with South Korean-based SK Innovations , according to an embargoed media briefing attended by IE.
The first plant in Kentucky will complete the installation in 2025, and the sister plant will be completed in 2026, creating 11,000 new jobs. And together, the capacity of these three new facilities will be 129 GWh – enough to power 1 million EV. No, we are not exaggerating.
Ford and SK Innovation are building three new battery plants in the United States
Ford Motor Company wants to bring larger-scale electric vehicles to U.S. consumers with two colossal and environmentally friendly facilities in both Kentucky and Tennessee capable of producing the next generation of all-electric F-Series trucks in addition to the batteries needed. to power future Ford and Lincoln electric vehicles. This is a joint announcement and deal with the company’s partner, SK Innovation, which has committed 7 billion and 4.4 billion dollars, respectively. The $ 5.6 billion mega-campus in Stanton, Tennessee, will be called Blue Oval City and will offer 6,000 new jobs, along with community-designed technical training programs to strengthen the local community. Ford and SK Innovation also plan to build a $ 5.8 billion battery complex called BlueOvalSK Battery Park, where 5,000 new jobs will have to be filled. It is important to remember that these are components, not car assembly, and that new efforts to produce batteries will go hand in hand with other ambitions to build more reliable means. recycling of lithium-ion batteries with minimal environmental costs.
The goal is to develop a production line to supply Ford’s North American car assembly plants with locally assembled batteries. They will be needed more than ever as the company unveils future Lincoln and Ford electric cars. “This is a transformative moment in which Ford will lead America’s transition to electric vehicles and usher in a new era of clean, neutral carbon production,” said Bill Ford, the company’s chief executive. “With this investment and innovative spirit, we can achieve goals we once considered mutually exclusive – to protect our planet, to create great electric vehicles that Americans will love and contribute to the prosperity of our nation.”
Ford has never invested so much in a manufacturing deal
Part of the credit for this deal is the strong demand the company saw for the nascent Ford F-150 Lightning truck, in addition to E-Transit and Mustang Mach-E cars. It’s hard to exaggerate how important this is for the country’s automotive industry, as according to a media briefing, Ford hasn’t built an entirely new plant on its own since the first plant in Kentucky was put into operation in 1969.
“This is our moment – our biggest investment to date – to help build a better future for America,” said Ford CEO and President Jim Farley during the media event. “We are moving now to deliver revolutionary electric vehicles for many, not a few. It’s about creating good jobs that support American families, an ultra-efficient, carbon-neutral manufacturing system and a growing business that brings value to communities, dealers and shareholders. ”Ford has never invested so much in a manufacturing deal in its 118 years of operation, but the company is considering this portion of its more than $ 30 billion investment in EVS by 2025 to develop manufacturing the country’s ecosystem for the 21st century, while keeping in mind its commitment to fulfill the deadline for the Paris Climate Agreement with zero carbon no later than 2050.