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<blockquote data-quote="Weather Man" data-source="post: 16673949" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3745101-ford-sk-make-114b-ev-bet-with-new-electric-f-150-plant-three-battery-plants" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3745101-ford-sk-make-114b-ev-bet-with-new-electric-f-150-plant-three-battery-plants" target="_blank">Ford, SK make $11.4B EV bet with new electric F-150 plant, three battery plants</a></p><ul> <li data-xf-list-type="ul">Ford (NYSE:<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a>) +3.8% post-market after unveiling plans <a href="https://seekingalpha.com/pr/18488840-ford-to-lead-america-s-shift-to-electric-vehicles-new-mega-campus-in-tennessee-and-twin" target="_blank">to team with South Korean battery maker SK Innovation to spend $11.4B</a> to build an electric F-150 assembly plant and three battery plants in the U.S., in a substantial acceleration of its push into electric vehicles.</li> <li data-xf-list-type="ul">Ford will build two massive battery factories in Glendale, Ky., and a third in Stanton, Tenn., alongside a new truck factory set to begin producing electric F-series pickups by 2025, creating 11K jobs.</li> <li data-xf-list-type="ul">The company says the planned $5.8B Blue Oval City complex in Tennessee "will usher in a new era for American manufacturing," comparing it to the Rouge complex in Michigan a century ago.</li> <li data-xf-list-type="ul">Ford expects to spend $7B on the project - which it says is the largest ever manufacturing investment at one time by any automotive manufacturer in the U.S. - and SK plans to chip in with $4.4B, which the companies say will provide enough capacity to build batteries for 1M electric vehicles per year.</li> <li data-xf-list-type="ul">Ford says it now expects 40%-50% of its global vehicle production volume will be fully electric by 2030.</li> <li data-xf-list-type="ul">The new megacampus and twin battery plants are part of the company's previously announced <a href="https://seekingalpha.com/news/3700252-ford-rallies-as-ambitious-all-electric-plans-confirmed-at-investor-event" target="_blank">plan to spend at least $30B through 2030 on vehicle electrification</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16673949, member: 137766"] [URL='https://seekingalpha.com/news/3745101-ford-sk-make-114b-ev-bet-with-new-electric-f-150-plant-three-battery-plants'] Ford, SK make $11.4B EV bet with new electric F-150 plant, three battery plants[/URL] [LIST] [*]Ford (NYSE:[URL='https://seekingalpha.com/symbol/F']F[/URL]) +3.8% post-market after unveiling plans [URL='https://seekingalpha.com/pr/18488840-ford-to-lead-america-s-shift-to-electric-vehicles-new-mega-campus-in-tennessee-and-twin']to team with South Korean battery maker SK Innovation to spend $11.4B[/URL] to build an electric F-150 assembly plant and three battery plants in the U.S., in a substantial acceleration of its push into electric vehicles. [*]Ford will build two massive battery factories in Glendale, Ky., and a third in Stanton, Tenn., alongside a new truck factory set to begin producing electric F-series pickups by 2025, creating 11K jobs. [*]The company says the planned $5.8B Blue Oval City complex in Tennessee "will usher in a new era for American manufacturing," comparing it to the Rouge complex in Michigan a century ago. [*]Ford expects to spend $7B on the project - which it says is the largest ever manufacturing investment at one time by any automotive manufacturer in the U.S. - and SK plans to chip in with $4.4B, which the companies say will provide enough capacity to build batteries for 1M electric vehicles per year. [*]Ford says it now expects 40%-50% of its global vehicle production volume will be fully electric by 2030. [*]The new megacampus and twin battery plants are part of the company's previously announced [URL='https://seekingalpha.com/news/3700252-ford-rallies-as-ambitious-all-electric-plans-confirmed-at-investor-event']plan to spend at least $30B through 2030 on vehicle electrification[/URL]. [/LIST] [/QUOTE]
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