New Delhi: As Ford started packing in India, the automaker announced plans to invest $ 11.4 billion (around Rs 84,614 crore) and create nearly 11,000 new jobs at two new locations. in Tennessee and Kentucky which will produce new generation Fs. -Standard electric trucks and batteries for future Ford and Lincoln electric vehicles. Tennessee and Kentucky are states in the southeastern region of the United States of America.Also Read – Government Authorizes New Rs 25,938 Crore PLI Program For Automotive Industry To Benefit Electric Vehicles And Hydrogen Fuel Cell Vehicles
Ford will invest heavily in partnership with South Korean firm SK Innovation, which is engaged in a variety of business areas including exploration and production, batteries, and computer and electronic materials. Ford says it will be the biggest U.S. investment in electric vehicles ever made by an automaker. Also Read – Ford to Stop Car Manufacturing in India, Sale of Figo, Aspire, Freestyle, EcoSport and Endeavor to End
In Tennessee, a brand new $ 5.6 billion campus on a site of nearly six square miles, called Blue Oval City, will emerge and create approximately 6,000 new jobs. At Blue Oval City, Ford will build next-generation F-Series electric pickup trucks. It will also have a BlueOvalSK battery factory to produce advanced batteries. Also Read – Best Electric Vehicles Under 25 Lakh In India – Tata Nexon EV, Tata Tigor EV, MG ZS EV, Hyundai Kona Electric
In Kentucky, the automaker plans to build a dedicated battery manufacturing complex, called BlueOvalSK Battery Park, with SK Innovation for a $ 5.8 billion investment to create 5,000 jobs. There will be two battery factories on site to supply locally assembled batteries to Ford’s North American factories to power next-generation Ford and Lincoln electric vehicles.
“This is a transformative time when Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” said Ford Executive Chairman Bill Ford.
“With this investment and a spirit of innovation, we can achieve goals once thought to be mutually exclusive – protecting our planet, building great electric vehicles that Americans will love and helping our nation prosper,” he said. added.
The announcement comes weeks after Ford announced it was restructuring its business operations in India, a move that is expected to affect nearly 4,000 employees. As part of the restructuring process, Ford stopped producing cars for sale in India. The automaker will stop manufacturing cars for export at its Sanand plant by the fourth quarter of 2021. Vehicle and engine manufacturing at Ford’s Chennai plant will cease by the second quarter of 2022.