Ford Motor Co. announced this week the largest investment in the history of the company for a value of 7 billion dollars for the construction of two factories, in Tennessee and Kentucky ( United States ), which will produce electric cars and batteries.
All this, together with the South Korean company specialized in batteries SK Innovation.
Between the two, almost 11,500 million dollars are going to be allocated, of which 7 thousand are from the American automaker, which a few months ago had communicated a total investment of 30 billion dollars in the electrification of its range of products in three years, approximately.
Ford plans to finalize a massification plan for electric cars by 2030. The idea is that e-cars reach between 40 and 50 percent of their total production.
Ford and SK Innovation will build two new stores, the Blue Oval City plant, in Tennessee, which will produce electric cars and batteries, and Blue Oval SK Battery Park, in Kentucky, which will only manufacture batteries.
In this announcement context, the shares of Ford and the Korean company rose in the stock market.
Investment and employment
The investment will lead to 11 thousand new direct jobs in the two US cities, in addition to representing the largest individually in terms of production of electric cars that has been seen so far in the US
Bill Ford, the automaker’s top executive, said this week at the event in Tennessee that the creation of Blue Oval City aims at a “better future” in his country and “throughout the world.”
In addition, he appealed to the history of the company indicating that in the same way that he led the industrial revolution, Ford helped create the middle class and contributed to the triumph of democracy in the two world wars, currently “it will lead the industrial transformation that will combat the climate crisis and safeguard nature.”
He also added that it is the moment when his character as a leader is relevant and that the world is immersed in constant and profound changes.
Jim Farley, CEO of the American automaker, indicated that Blue Oval is going to mark “the beginning of a golden era in electric vehicles ”.
Ford and the “oval cities”
Investment in the city of Tennessee , valued at a little more than 5.5 billion dollars, will found the so-called Blue Oval City. This is a building that has an area of almost 15 square kilometers in which 6 thousand employees will work to manufacture Ford F Series electric pick-up trucks, in addition to batteries.
The company pointed out that this establishment will represent one of the largest car manufacturing facilities in the history of its country and that it will function as a vertically integrated system, which will add a fleet of suppliers, which will reduce the cost and minimize the impact on the environment.
The car assembly factory will use online connection technologies in the cloud, which will promote significant improvements in product quality and in worker productivity.
In Kentucky, meanwhile, the two companies are going to invest a little less than 6 billion dollars in the so-called Blue Oval SK Battery Park, a complex that will produce batteries and where 5 thousand employees will be hired.
Its function ion will be to provide the batteries needed for Ford’s refurbished electric car models.
Blue Oval SK Battery Park will integrate two production plants and will start operating in 2025. It will to have a capacity of 86 GV / hour per year.
Finally, the Ford executive pointed out that the new production plants will be
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