The brand has announced the construction of four new plants in the United States. Never had Ford announced such an investment since its birth, 118 years ago. And as proof that the automotive industry is in the midst of a revolution, the colossal expenditure of 11.4 billion dollars concerns the electric car.
With a South Korean partner, SK innovation, Ford will build four new plants in the United States. Three of them will produce batteries, while the last one will assemble vehicles from the F family, the brand’s pick-ups. The manufacturer has just launched an electric version of the F-150, its American bestseller, and it is off to a great start.
For this investment, Ford will spend more precisely 7 billion dollars (the rest being paid by SK innovation), a sum which is part of the global investment of 30 billion that Ford had announced a few months ago for its electric transition. In Europe, the goal is to be 100% electric by 2030. Globally, the brand expects to reach nearly 50% of sales in electric vehicles by the end of the decade, whereas it was counting on 40% a short time ago.
Jim Farley, Ford’s chief executive, said his company intends to “provide revolutionary electric vehicles for the many rather than the few,” which is surely a jab at Tesla, whose positioning is seen as luxurious. The fact remains that, to date, Ford’s electric car is an expensive Mustang Mach-E, while Tesla has gone downmarket with the Model 3.
Ford is playing on the patriotic side, pointing out that these new American factories will provide 11,000 jobs.