Ford Announces $11B Investment in EVs
Sept. 29, 2021—Ford Motor Co. on Monday announced a massive $11 billion investment into its EV manufacturing infrastructure.
The commitment, which according to the Detroit Free Press is the single-largest investment in Ford's 118-year history, will create a self-contained EV supply chain for the automaker and will create nearly 11,000 jobs.
The crowning jewel of the investment is a new assembly plant for all-electric F-Series trucks and a battery plant in Stanton, Tenn., as well as two more battery plants in Glendale, Ken.
"Bringing the battery supply chain to the U.S. insulates Ford from being held hostage by battery shortages the way the industry has been kneecapped by the global semiconductor chip shortage," the report said.