Ford plans to invest $11 billion in a Tennessee “megacampus” and battery plants.
Ford has launched a massive effort to transition away from fossil fuels and the construction of a new campus in Tennessee in order to “lead America’s shift to electric vehicles,” a plan that the company claims will create thousands of jobs.
Late Monday, the automaker unveiled a $11.4 billion investment in the project, which will result in a 3,600-acre campus in western Tennessee and twin lithium-ion battery installations in central Kentucky.
The project is a collaboration with SK Innovation in South Korea. According to Ford, this is the greatest single EV investment in US history.
The plants and the $5.6 billion “mega campus,” dubbed Blue Oval City, will start operating in 2025.
The Stanton, Tenn., facility will house the company’s largest battery plant and will be the “largest, most innovative, and most efficient vehicle production complex” in its history, according to Ford. About 40 miles northeast of Memphis is Stanton.
In more than a generation, we’re constructing our first megacampus. Blue Oval City, a brand-new megacampus just outside of Memphis, strives to be 100 percent renewable energy, zero waste to landfill, and reusing every drop of water to maintain our planet’s long-term viability. pic.twitter.com/O97N9X3ek2 September 27, 2021 — Ford Motor Company (@Ford)
The manufacturer claims that the six-mile complex will be carbon-neutral, that it will use recycled water, and that it would recycle its materials.
In a statement, Ford Executive Chairman Bill Ford said, “This is a transformative moment.” “With this investment and a culture of invention, we can achieve goals that were long thought to be mutually contradictory – protect the environment, produce excellent electric vehicles in America… and contribute to the prosperity of our country.”
Ford estimates that the project will generate 11,000 employment.
The business also announced a $525 million nationwide investment to train and improve electric vehicle mechanics in Monday’s presentation.
In May, Ford announced a collaboration with SK Innovation to manufacture electric vehicle batteries in the United States.
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