Ford Has Announced An Investment Of $11.4 Billion In An Electric Vehicle Facility.
Key Sentence:
- Ford has announced a significant investment in electric vehicle (EE) production in the United States and pledged to build its largest factory in Tennessee and two battery bays in Kentucky.
- As part of its $11.4 billion (£8.3 billion) plan, the automaker announced manufacturing zero-emission cars and pickups for US customers.
In addition, 11,000 jobs will be created. Like rivals GM and Stellantis, Ford expects about half of the cars it sells to be emission-free by 2030. However, the additional government investment required for implementation is questionable.
"This is our moment our biggest investment - in building a brighter future for America," said Jim Farley, Ford President, and CEO. "We are moving now to bring revolutionary electric vehicles to the many, not the few." Ford says the Tennessee facility - called Blue Oval City - will span 10 square miles and produce electric trucks and next-generation batteries by 2025.
Its Kentucky battery will power Ford and Lincoln's new line of electric cars.
Ford has increased investment in electric vehicles at its Texas and Michigan plants. He said he would make a new investment in a partnership with SK Innovation, a South Korean battery maker.
The Biden government wants to change that with stricter emissions regulations starting in 2026 and billions in new gas station fees and incentives for consumers. However, the money is tied to two spending bills that Democratic leaders must receive through the divided Senate. On Thursday, lawmakers will vote on the former - a $1.5 trillion infrastructure plan - which appears to have enough bipartisan support to pass.
But the second 3.5 trillion note.
The dollar - which focuses on expanding the US social security network - defies all Republicans and some moderate Democrats who say it is too expensive in its current form. Ford told the that their announcement did not coincide with this week's Capitol Hill election. But he said he supported passing two laws that would "help more Americans get into electric vehicles while supporting American manufacturing and union work."