Hyperdrive

Ford, SK Invest $11.4 Billion in Electric Truck, Battery Plants

Assembly, battery plants at vast sites in Tennessee, Kentucky
Automaker pairs with South Korean battery maker SK Innovation

WATCH: Ford CEO Jim Farley says new factories will create 11,000 jobs. Source: Bloomberg)

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By Keith Naughton

September 27, 2021 at 11:00 PM UTC

Updated on

September 28, 2021 at 2:39 PM UTC

Ford Motor Co. and South Korea’s SK Innovation Co. plan to spend $11.4 billion to construct three battery factories and an assembly plant for electric F-Series pickup trucks in Tennessee and Kentucky, the biggest investment in the U.S. automaker’s history.

The project will create two vast sites to produce electric vehicles and the batteries to power them, employing nearly 11,000 workers, the companies said Monday. Ford is spending $7 billion, while battery partner SK is kicking in $4.4 billion. They begin to come online in 2025.