What is happening? Ford Motor Company is committing Billions to 2 EV manufacturing facilities. One located in Kentucky and the other in Tennessee.
Why is this important? Let’s look at the numbers:
- 11,000 jobs in total
- 5,000 in Kentucky
- 5,800 in Tennessee
- KY will house a $5.8 billion battery manufacturing complex
- KY’s economic development deal: $250 million forgivable loan, 1,550 acres of property for the facility and $36 million towards job training
- $7 billion from Ford for the facilities in TN & KY
- $5.6 billion to build a 3,600-acre “mega campus” in TN to produce all-electric F-Series trucks and advanced batteries
- $500 million in advanced incentives are being offered by TN for successful completion
How will this be important? This is part of a total of $30 B investment from Ford to see fully electric vehicles to make up 40% to 50% of its U.S. sales by 2030
Route Fifty | Ford to Invest Billions in Electric Vehicle Production in Two States