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Ford, SK to invest $11.4 bn to add electric F-150 plant

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Ford Motor Co and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the US automaker’s push into electric vehicles.


Ford said it now expects to have 40 to 50 per cent of its global vehicle volume to be all-electric by 2030, up from its prior forecast of 40 per cent. The companies intend to create nearly 11,000 jobs by opening assembly and battery plants in Stanton, Tennessee, and two additional battery factories in Glendale, Kentucky, as part of Ford’s previously announced plan to spend more than $30 billion through 2030 on electrification, Ford said.


— Reuters


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