Ford Motor Company this week announced it’s investing more than $11 billion in two plants to produce electric vehicles (EVs) and EV batteries, with Executive Chair Bill Ford saying, “We’re on the cusp of a revolution.”
The company will build two plants in Tennessee and Kentucky to produce electric cars and pickup trucks, along with the batteries to power them. The plants are expected to employ 11,000 jobs in those two states, and at least one will be zero-waste-to-landfill once fully operational.
Ford said he expects 40 percent of the company’s new cars and trucks will be electric.
Automaker Ford announced last week it expects 40 percent of its new vehicles to be electric by 2030. The announcement came on the heels of the introduction of the all-electric version of its bestselling F-150 pickup truck (pictured here), which they say boasted 70,000 reservations in the first week.
The company predicted that the cost to manufacture batteries for electric vehicles will fall 40 percent by 2025, as demand rises. Ford hopes to be a solid contender to Tesla and other all-electric vehicle manufacturers and recently invested in two battery factories.