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Ford recently announced that it will be building its first US assembly plant in decades, as well as three battery factories in Tennessee and Kentucky. As the company prepares to channel $7 billion into this initiative — its largest manufacturing investment in its history — this marks a major step toward automakers fulfilling their pledges to shift their businesses toward electric vehicles (EVs).
As Ford establishes new environmentally and technologically advanced auto factories in these areas, this will satisfy the demand to bring zero-emission vehicles at scale to American customers. What's more, their existence will create 11,000 new jobs and reimagine how vehicles and batteries will be manufactured moving forward.
Pickups outsold passenger cars for the first time in 2020, per Kelley Blue Book, suggesting that EV pickup trucks could become the next area of growth for EVs. This presents automakers, like Ford, with the opportunity to leverage the popularity of this area and reshape this industry.
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Ford, among other leading auto manufacturing companies, has pledged to aid in President Biden's initiative to ensure that half of the cars and light trucks sold in the US by 2030 will be EVs. While the target of 50% EVs is consistent with various automaker's individual plans, a shorter-range five-year plan with a more definitive charging infrastructure rollout could be more attainable.
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