Ford announces $11.4 bn investment for electric vehicle productionFord Motor Company's CEO Jim Farley poses next to the newly unveiled electric F-150 Lightning outside of their Dearborn, Michigan headquarters in May 2021; he said the company seeks to deliver electric vehicles "for the many rather than the few"WASHINGTON - US car manufacturer Ford said Monday it plans to invest $11.4 billion in electric vehicle production, building four new plants that will create 11,000 new jobs by 2025. Together with its South Korean partner SK Innovation, Ford will build the factories in Kentucky and Tennessee, the automaker said in a statement. Ford will invest $7 billion, part of a $30 billion investment already announced last spring, and SK Innovation will put up the remainder. Ford said it would be the "largest, most advanced, most efficient auto production complex in its 118-year history" and would place the company at the forefront of the country's shift to electric vehicles. Executive Chair Bill Ford said, "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."
