Commercial, Sourcing Renewables - October 4, 2021
Ford Plans $11.4 Billion Investment For EV Production Facilities
Ford Motor Company announced Sept. 27 its largest investment into electric vehicle production with the opening of two manufacturing campuses in Tennessee and Kentucky for electric vehicles and batteries.
Ford reported that this is the largest-ever U.S. investment in electric vehicles at one time by an automotive manufacturer. The automaker will be investing $11.4 billion into the creation of the two EV campuses.
The facility in Tennessee, named Blue Oval City, will feature vehicle assembly, battery production and a supplier park. The campus will also be designed to deploy renewable energy sources and Ford plans for it to be carbon neutral when production begins in 2025.
Additionally, the investment will include the creation of three new BlueOvalSK battery plants in Kentucky that will enable 129 GWh a year in U.S. production capacity and supply Ford’s North American assembly plants. The two plants will be able to produce up to 43 GWh each annually and will power the next generation of electric Ford and Lincoln vehicles
These facilities will support Ford’s goal to invest more than $30 billion in electric vehicles through 2025. The company expects 40% to 50% of its global vehicle production to be fully electric by 2030.
“This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” Bill Ford, Ford’s executive chair, said in a statement. “With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive – protect our planet, build great electric vehicles Americans will love and contribute to our nation’s prosperity.”