Ford is planning a $ 11bn deal to pay for car and SK power plants

Updates for Ford Motor Co

Ford Motor has set up a factory-backed system for a new electric power company, costing $ 11bn in partnership with South Korea’s SK Innovation to build three batteries and cars.

U.S. units in Kentucky and Tennessee can register about 11,000 workers to make battery-powered Fords popular F-type vehicles

The automaker’s production component, $ 7bn, is the largest investment Ford has made in its 118-year history and its figures under the $ 30bn quarter that Ford has committed to destroying its fleet by 2025.

Ford is a rival to General Motors and Stellantis stood aside U.S. President Joe Biden last month and promised that between 40 and 50% of their cars for sale will have been released by the end of the decade. Biden has asked electric vehicles to account for half of all sales by 2030 to reduce emissions.

Lisa Drake, chief executive of Ford in North America, said the company expects a third of the car sales to be sufficient. electronics by 2030.

“This is a very important time for us in our country today,” he said. “We are seeing a very complex mass to replace the electric batteries on the battery right away,” he said.

With its money back, Ford is following GM, which is transforming three industries to make electric cars and plans to replace batteries in Ohio and Tennessee. GM is committed to spending $ 35bn on electricity by 2025 as car companies move away from internal combustion engines.

Dollars from Ford and SK Innovation battery manufacturers will be shared equally between the battery-powered twin factories in central Kentucky and at a 6-kilometer “mega-campus” conference facility west of Tennessee that may include retailers and rechargeable batteries. .

The Tennessee plant, called Blue Oval City – the Ford elliptical sign – will be producing the best-selling F-150 car for its big-brother, Super Duty.

The F-150 with a traditional engine currently manufactured by 4,200 people works around the clock at the Dearborn Truck plant, located at Ford’s armory near Michigan River Rouge.

Founder Henry Ford built the building a hundred years ago to integrate it around making the company’s first cars. Ford has sold $ 950m to the Rouge complex to build another new F-150s power plant.

The Tennessee campus will be three times the size of Rouge’s home, and Ford says it will employ about 6,000 people. Both Tennessee and Kentucky have “work-in-law” regulations, a way of reducing contract that allows employees to work for unpaid employers in a union.

United Auto Workers has traditionally established a US car dealership with many of its retailers. This agreement is with you anxiety that the evolution of electric vehicles poses a risk to which employees have been successful for many years.

John Savona, vice president of Ford’s manufacturing and operations department, said the new seeds “could have a choice if they were ready, and we respect and support their right to choose”.

Ford has received 150,000 so far F-150 Lightning, including customers from those who have never bought a Ford or carried a car before, Drake said.

“It has also strengthened our ability to grow in a way that is already strong,” he said.

The Blue Oval City plant in Tennessee will begin production in 2025, as is the first of two batteries in Kentucky, says Ford. The second Kentucky plant will hit the internet next year.

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