Ford announces US$11.4bn electric vehicle investmentAFP, WASHINGTONUS automaker Ford Motor Co on Monday said it plans to invest US$11.4 billion in electric vehicle (EV) production, in a bid to position itself to lead the US’ shift away from fossil fuels. An artist’s rendition released on Monday depicts a Ford Motor Co-SK Innovation plant planned for Tennessee in 2025. Photo: ReutersIt is to invest US$7 billion, part of a US$30 billion investment already announced last spring, and SK Innovation will put up the remainder, the statement 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, Ford said. A Ford F-150 Lightning prototype is displayed at the Rouge Electric Vehicle Center in Dearborn, Michigan, on Sept. 16.

Source: Taipei Times September 28, 2021 15:56 UTC