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us apple developer accounts for sale(buyappleacc.com):Ford, SK to invest $11.4 billion to add electric F-150 plant, three battery factories

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DETROIT/SEOUL - Ford Motor Co and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker's push into electric vehicles.

Ford said on Monday it now expects to have 40% to 50% of its global vehicle volume to be all-electric by 2030, up from its prior forecast of 40%.

The companies intend to create nearly 11,000 jobs by opening assembly and battery plants in Stanton, Tennessee, and two additional battery factories in Glendale, Kentucky, as part of Ford's previously announced plan to spend more than $30 billion through 2030 on electrification, Ford said. Plants on both sites will open in 2025.

Monday's announcement is the single largest manufacturing investment in Ford's 118-year history.

The Tennessee assembly and battery complex will be about three times the size of Ford's sprawling, century-old Rouge manufacturing complex in Dearborn, Michigan, Ford North American Chief Operating Officer Lisa Drake told Reuters in an interview. She emphasized there will be room to expand on that site.

"For us, this is a very transformative point where we are putting our capital in place now in a very big way to lead the transition to EVs," Drake said.

The No.2 U.S. carmaker's portion of the investment is $7 billion, with SK covering the rest. The companies will invest $5.8 billion in Kentucky, and $5.6 billion in Tennessee.

The South Korean battery maker, which supplies electric car batteries to Ford Motor and Hyundai Motor Co among others, has battery production sites in the United States, Hungary, China and South Korea.

With its three additional battery factories and two battery plants in Georgia, SK Innovation is set to secure an annual capacity of about 150 gigawatt-hours (GWh) of batteries in the United States.

SK Innovation said it expects to exceed the goal of securing an annual global production capacity of 200 GWh of batteries by 2025. Its current capacity stands at 40 GWh.

Shares of SK Innovation rose as much as 3.6% to hit a near two-week high of 260,500 won in morning trade, versus the broader market KOSPI's 0.8% fall. Ford closed up 2.8% on Monday.

Ford, which plans to launch the electric F-150 Lightning pickup truck next spring, has moved more aggressively to roll out its EV strategy under Jim Farley, who took over as chief executive last October. Earlier this month, Ford doubled planned production capacity in Dearborn, Michigan, for the F-150 Lightning https://www.reuters.com/business/autos-transportation/exclusive-ford-doubles-lightning-production-target-strong-pre-launch-demand-2021-08-23 to 80,000 annually due to strong pre-launch demand for the electric pickup.

Ford and other automakers are pushing hard to prepare for the rollout of EVs as countries and regions such as China and Europe seek greater reduction of vehicle emissions.

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