Ford Motor Company Announces $11 Billion Investment in EV Factories
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Despite Tesla (NASDAQ: TSLA) leading the electric vehicle (“EV”) charge as the largest EV producer in the world, legacy automakers are working hard to catch up with the California-based EV startup. Ford Motor Company (NYSE: F), which recently unveiled an electric version of its best-selling F-150 pickup truck, has announced that it will invest billions of dollars into significantly expanding its lineup of electric vehicles. This investment will see the American automaker build its largest-ever factory as well as two battery factories to provide battery packs for its EVs.
In partnership with South Korean energy company SK Innovations, Ford Motor Co. will invest a whopping $11.4 billion into building two massive manufacturing campuses to build electric vehicles, one in Kentucky and the other in Tennessee. The two sites will include three EV battery manufacturing factories and a plant for building batteries for electric pickups. The move represents Ford’s...
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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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