Ford Building Massive Electric Vehicle and Battery Plants with $11.4 Billion Investment

"Automaker says production hubs will bring 11,000 jobs to Tennessee and Kentucky."

Why this is important: Ford Motor Company and Korean battery manufacturer SK Innovation are making a massive investment in electric vehicles and the batteries that will power the future of transportation. The two are investing $11.4 billion in factories in Kentucky and Tennessee. The Kentucky facility, called Blue Oval SK, near Glendale about 70 miles south of Louisville, will employ 5,000 workers on a 1,500 acre site that will contain two battery manufacturing facilities in a joint venture with Ford and SK. The Tennessee complex, called Blue Oval City, outside Memphis, is six square miles and will employ 6,000 to make batteries and manufacture electric vehicles, like trucks. Ford now says by 2030, 100 percent of its vehicles sold in Europe will be battery powered and 40 percent of its vehicles sold in the U.S. will be electric. It is providing $7 billion of the $11.4 billion being invested in the two projects.