(CNN) Ford Motor Co. and South Korea-based energy company SK Innovations are investing $11.4 billion to build two new enormous manufacturing campuses for electric vehicles, creating more than 10,000 new jobs and representing Ford's largest-ever single manufacturing investment in the company's 118-year history. Ford's share of the investment will be $7 billion, Ford executives said. Ford previously announced it will spend $30 billion by 2025 on its shift to building more electric vehicles and that it expects 40% of its sales, worldwide, to be fully electric vehicles by 2030. Ford chief executive Jim Farley called on the federal government to do more to support a transition to electric vehicles in an interview with CNN International. Long-term success for the company will require infrastructure and supply chain investments, along with subsidies for people to buy electric cars.

Source: CNN September 27, 2021 22:52 UTC