Ford’s $5.6 Billion Electric Vehicle Factory Is Now Under Construction

Ford Breaks Ground on $5.6 Billion BlueOval City Complex

A New Era for Electric Vehicles?

On Friday, Ford marked a significant milestone by breaking ground on its $5.6 billion BlueOval City complex in Tennessee. This sprawling mega campus is set to become the epicenter of Ford’s future electric vehicles (EVs), with a goal to sell 2 million EVs annually by late 2026.

What is BlueOval City?

BlueOval City is a massive, six-square-mile production complex that will serve as the hub for Ford’s advanced battery development and manufacturing. The automaker has committed to investing $11.4 billion in this joint venture with South Korean battery maker SK On. This partnership will create approximately 6,000 jobs at BlueOval City and twin battery factories in Glendale, Kentucky.

A Blueprint for the Future

Eric Grubb, Ford’s director of new footprint construction, emphasized the significance of BlueOval City as a "blueprint" for the company’s future manufacturing facilities. This complex will enable Ford to play a leading role in America’s transition to electric vehicles.

Preparing the Land

Construction on BlueOval City began in March, with Ford and its partners undertaking extensive preparations. According to the company, they have:

• Moved enough soil to fill 34,500 backyard swimming pools
• Laid down tons of stone equivalent to building the Statue of Liberty 1,600 times

Challenges Ahead

Despite this major milestone, Ford’s stock price slipped by 15% following its announcement that supplier costs will be $1 billion higher in the third quarter due to rising inflation and supply chain problems. The automaker also faces a vehicle parts shortage, which may bottleneck up to 45,000 unfinished vehicles at its factories through September.

Leadership Changes

In recent news, Ford has announced leadership changes as it works to scale its EV business unit, Ford Model e. Key appointments include:

• Doug Field: Chief advanced product development and technology officer, overseeing EV products, advanced driver assistance, software and digital systems development, design, and vehicle hardware engineering.
• Lisa Drake: Vice president of EV industrialization, leading manufacturing engineering.
• Chuck Gray: Vice president of EV technology, responsible for vehicle hardware engineering.

Ford’s Commitment to Electrification

As part of its $50 billion investment in electrification and vehicle technology through 2026, Ford aims to create a standalone EV business unit. This ambitious goal underscores the company’s commitment to becoming a leader in the electric vehicle market.

Conclusion

The groundbreaking ceremony at BlueOval City marks an important step towards Ford’s vision for a future dominated by electric vehicles. Despite ongoing challenges, the automaker remains focused on its goals and is committed to investing heavily in this sector. As the world transitions towards more sustainable transportation options, Ford is poised to play a significant role in shaping the industry.

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