Ford To Invest $2B In Kentucky Plant For Affordable EVs

Benzinga

Ford will invest $2 billion in its Louisville, Kentucky, assembly plant to produce more affordable EVs, according to CNBC. The Louisville investment, combined with a $3 billion Michigan battery park plan, will create or secure nearly 4,000 jobs, Ford said. Ford’s new “Universal EV Program” will launch in 2027 with a midsize, four-door electric pickup built at the Louisville Assembly Plant. Ford CEO Jim Farley said the company aims to build affordable, high-quality vehicles with American workers as the auto industry faces new technology and global competition. He cited pressure from Chinese automakers, startups, and big tech, calling for a radical approach to develop an affordable vehicle. Ford said the Louisville plant will secure about 2,200 jobs after EV retooling, 600 fewer than it employs now.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Ford will invest $2 billion in its Louisville, Kentucky assembly plan to produce more affordable EVs, according to CNBC.

00:09Louisville investment, combined with a $3 million Michigan battery park plan, will create or secure nearly 4,000 jobs.

00:15Ford's new universal EV program will launch in 2027 with a mid-sized four-door electric pickup built in the Louisville assembly plan.

00:22Ford CEO Jim Farley said the company aims to build affordable, high-quality vehicles with American workers

00:27as the auto industry faces new technology and global competition.

00:31He's sending pressure from Chinese automakers, startups, and big tech, calling for a radical approach to develop an affordable vehicle.

00:37Ford said the Louisville plant will secure about 2,200 jobs after EV retooling, 600 fewer than it employs now.

00:43For all things money, visit Benzinga.com.

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