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Ford announces $11.4bn investment in electric vehicle plants | Ford announces $11.4bn investment in electric vehicle plants |
(32 minutes later) | |
Ford has announced a major investment in electric vehicle (EV) production in the US, promising to build its biggest ever factory in Tennessee, and two battery parks in Kentucky. | Ford has announced a major investment in electric vehicle (EV) production in the US, promising to build its biggest ever factory in Tennessee, and two battery parks in Kentucky. |
The firm says the $11.4bn (£8.3bn) plan would create 11,000 jobs and help "lead America's shift" to electrification. | |
It hopes that 40-50% of the cars it sells will be zero emission by 2030, in line with a Biden administration goal. | It hopes that 40-50% of the cars it sells will be zero emission by 2030, in line with a Biden administration goal. |
Yet the government investment needed to make it happen is still in question. | Yet the government investment needed to make it happen is still in question. |
Ford said its Tennessee factory - called Blue Oval City - will cover a 6-square-mile area and build next-generation electric pickup trucks and batteries from 2025. | Ford said its Tennessee factory - called Blue Oval City - will cover a 6-square-mile area and build next-generation electric pickup trucks and batteries from 2025. |
Its battery parks in Kentucky will power a new line-up of Ford and Lincoln EVs. | Its battery parks in Kentucky will power a new line-up of Ford and Lincoln EVs. |
"This is our moment - our biggest investment ever - to help build a better future for America," said Jim Farley, Ford's president and chief executive. "We are moving now to deliver breakthrough electric vehicles for the many rather than the few." | "This is our moment - our biggest investment ever - to help build a better future for America," said Jim Farley, Ford's president and chief executive. "We are moving now to deliver breakthrough electric vehicles for the many rather than the few." |
'I'm just not ready to buy an electric car' | 'I'm just not ready to buy an electric car' |
Why electric cars will take over sooner than you think | Why electric cars will take over sooner than you think |
Ford has already ramped up investment in EV production at its Texas and Michigan plants. It said it would be making the new investments in partnership with SK Innovation, a South Korean battery maker. | Ford has already ramped up investment in EV production at its Texas and Michigan plants. It said it would be making the new investments in partnership with SK Innovation, a South Korean battery maker. |
Outside of a few major metropolitan areas, EVs still aren't very common in the US and the country accounted for just 2% of new EV sales globally last year. | Outside of a few major metropolitan areas, EVs still aren't very common in the US and the country accounted for just 2% of new EV sales globally last year. |
The Biden administration hopes to change this with tougher tailpipe emissions rules from 2026 and billions of dollars of spending on new charging points and consumer incentives. | The Biden administration hopes to change this with tougher tailpipe emissions rules from 2026 and billions of dollars of spending on new charging points and consumer incentives. |
However, the cash is allocated in two spending bills that Democrat leaders still need to get through a divided Senate. | However, the cash is allocated in two spending bills that Democrat leaders still need to get through a divided Senate. |
There will be a vote on the first - a $1tn infrastructure plan - this Thursday and it appears to have enough bi-partisan support to pass. | There will be a vote on the first - a $1tn infrastructure plan - this Thursday and it appears to have enough bi-partisan support to pass. |
But a second, $3.5tn bill - which focuses on widening America's social safety net - is opposed by every Republican and some moderate Democrats who say it is too expensive in its current form. | But a second, $3.5tn bill - which focuses on widening America's social safety net - is opposed by every Republican and some moderate Democrats who say it is too expensive in its current form. |
Ford told the BBC its announcement was not timed to coincide with this week's voting on Capitol Hill. | Ford told the BBC its announcement was not timed to coincide with this week's voting on Capitol Hill. |
But it said supports the passage of both bills, which would "help more Americans get into electric vehicles, while at the same time supporting American manufacturing and union jobs". | But it said supports the passage of both bills, which would "help more Americans get into electric vehicles, while at the same time supporting American manufacturing and union jobs". |
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