Business

Ford begins construction on $5.6 billion Tennessee electric truck factory

Construction on Ford’s new Blue Oval City production complex in Stanton, Tennessee, is now well underway after its announcement last September.

The $5.6 billion campus is expected to begin production of electric trucks and batteries in 2025 in partnership with Korea’s SK On.

Construction supports have begun to emerge from the property for a facility that will span six square miles and employ 6,000 workers when complete.

“This facility is the blueprint for Ford’s future manufacturing facilities and will enable Ford to lead the U.S. shift to electric vehicles,” said Eric Grubb, director of new footprint engineering at Ford.

FORD CEO JIM FARLEY EXPLAINS WHY THE BRAND WON’T BECOME FULLY ELECTRIC LIKE GM

Blue Oval City will cover six square miles when completed. (ford)

Read:Bank launches emergency intervention in markets after Kwarteng mini-budget | Bank of England

The project is supported by an $884 million incentive program from the state of Tennessee and is expected to create 21,000 additional indirect jobs, according to government officials.

Tennessee Governor Bill Lee called it the “largest investment in state history.”

Blue oval city steel

Blue Oval City is planned to build electric pickups and batteries. (ford)

The plant will build a next-generation “F-series electric pickup that is different from” the current F-150 Lightning, Ford CEO Jim Farley said in April.

IN OR OUT: FORD GIVES DEALERS ULTIMATE ON EV . SALE

Blue Oval City is part of a wider regional investment in Ford’s electric vehicle production, including a $5.8 billion battery plant in Kentucky.

Jim Farley Lightning

Ford CEO Jim Farley said Blue Oval City will build a next-generation F-series electric pickup. (Photo by Bill Pugliano/Getty Images/Getty Images)

Read:Oil prices surge more than 2% as Putin mobilises more troops

Ford is targeting global capacity to build two million electric vehicles annually by 2026, which would represent nearly a third of its production, but has not committed to a timeline to go all-electric in the U.S.

blue oval faucets

The total cost for Blue Oval City is $5.6 billion. (ford)

Read:Home buyers are canceling purchase contracts. What to know before you do

Ford split its business this year into the Model e division, which focuses on electric vehicles and Ford Blue, which focuses on models with combustion engines and hybrids.
GET FOX BUSINESS ON THE GO BY CLICKING HERE

Farley told the company’s dealers this month that they have the option of simply selling Ford Blue products if they don’t want to make the investments needed to support electric vehicle sales.

Previous post
Pixel tablet display will apparently be around 11 inches
Next post
Traffic jams and desperation at the border as Russians flee Putin’s ‘partial mobilization’