The $5.6B epicenter of Ford’s EV effort is now under construction
By Editor - Fri Sep 23, 10:50 am
Ford broke ground Friday at its $5.6 billion BlueOval City complex in Tennessee, the epicenter for its future electric vehicles and a key milestone toward its goal to sell 2 million EVs annually by late 2026. BlueOval City is slated to begin building advanced batteries for future Ford and Lincoln EVs in 2025, including the F-150 Lightning and a second battery-electric pickup. The automaker calls BlueOval City its “largest, most advanced auto production complex” in the company’s 119-year history. Overall, the $11.4 billion joint venture with South Korean battery maker Sk On will create roughly 6,000 jobs at the new six-square-mile mega campus near Memphis, Tennessee, as well as twin battery factories in Glendale, Kentucky. “This facility is the blueprint for Ford’s future manufacturing facilities and will enable Ford to help lead America’s shift to electric vehicles,” Eric Grubb, Ford’s director of new footprint construction, said in a statement. Ford and its construction partners began preparing the land in March, so far moving enough soil to fill 34,500 backyard swimming pools, and laying enough tons of stone to build the Statue of Liberty 1,600 times, according to the company. The automaker’s stock price slipped 15% this week following its announcement Monday that supplier costs will be $1 billion higher in the third quarter than expected due to rising inflation and ongoing supply chain problems.