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Oct. 7, 2021, 9:36 a.m. EDT

Ford Motor Company (US: F) Announces $11 Billion Investment in EV Factories

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/zigman2/quotes/208911460/composite F +1.48%

Oct 07, 2021 (Investor Brand Network via COMTEX) -- Despite Tesla 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 , 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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COMTEX_394736018/2557/2021-10-07T09:36:03

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/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 19.87
+0.29 +1.48%
Volume: 93.93M
Dec. 2, 2021 4:02p
P/E Ratio
27.41
Dividend Yield
2.01%
Market Cap
$78.25 billion
Rev. per Employee
$683,570
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