Ford and SK Innovations Partner in an $11.4B Electric Vehicles Investment

Ford and SK Innovations Partner in an $11.4B Electric Vehicles Investment

(CNN) Ford Motors Corporation has partnered with South Korea’s SK innovations to construct two massive electric vehicle manufacturing plants for $11.4 billion.

Ford Executives have said that the truck and lithium-ion battery production will begin in 2025 as the company continues to push for 40% fully electric global sales by 2030. 

The project locations will be Tennessee and Kentucky, creating 11,000 jobs. 

The automaker has previously announced that it will invest $30 billion to accelerate the move towards electric vehicles by 2025.  

Ford’s stake in the project will be $7 billion and will be the biggest single manufacturing investment in its history.  

F: NYSE is up +2.26% on pre-market, 096770: KRX is up +3.78%.

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