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| Tue, 5th Oct 2021 14:49:00 |
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It’s Tuesday, October 5, and a U.S. automaker is putting its money where its mouth is |
As part of the auto industry’s long-awaited shift toward electric vehicles, Ford Motor Company and a South Korean battery producer unveiled plans last week to invest $11.4 billion to build an electric vehicle manufacturing campus and multiple battery plants in Kentucky and Tennessee.
Ford will build a sprawling, 3,600-acre complex in Stanton, Tennessee, where the company will assemble electric models of its F-series pickup trucks. When the campus opens in 2025, the assembly plant will supposedly be carbon neutral, sending zero waste to landfills, treating wastewater at an on-site facility, and possibly using local renewable energy sources. Operating twin battery plants in Glendale, Kentucky, the South Korea-based company SK Innovation will produce lithium-ion batteries that will power electric Ford and Lincoln vehicles.
The investment represents the latest move by an automaker to phase out gasoline-powered vehicles, which — along with the nation’s ships, trains, and planes — account for roughly 30 percent of U.S. greenhouse gas emissions. According to Ford, the company plans to invest more than $30 billion in EVs through 2025, and expects at least 40 percent of its vehicles to be fully electric by 2030.
“This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” Ford executive chair Bill Ford said in a statement.
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