Ford announced this week that it’s investing $11.4 billion dollars in the creation of two new electric vehicle car plants. The factories will employ an estimated 11,000 workers and build F-series trucks and Lincolns along with the batteries for them.
The company will build three battery factories as well as one assembly plant before 2025 as its tries to capture a greater share of the growing EV market. Ford has estimated that by 2030, between 40-50% of its vehicles will be fully electric.
The factories will be build in Kentucky and Tennessee. The $11.4 billion investment is the biggest investment ever made by the 118 year old company.
Ford has partnered with a South Korea battery maker called SK Innovation.