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

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


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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