[ad_1]
Ford is moving quickly to solidify its position in the rapidly evolving auto industry. The company announced on Monday that it has broken ground on its BlueOval battery plant as part of its joint venture agreement with SK Innovation. The battery plant is expected to play a critical role in achieving the automaker’s goal of a 2 million run rate by 2026 by producing batteries for future Ford and Lincoln electric vehicles.
Ford opened a new chapter in the automaker’s nearly 120-year history as it announced plans to manufacture EV battery cells and arrays in May 2021. CEO Jim Farley declared, “We’re not giving up our future to anyone,” after entering into a joint venture with SK Innovation to produce around 60 GWh of annual capacity beginning in the middle of the decade.
The battery park is part of Ford’s strategy to vertically integrate and build its domestic EV supply chain.
Speaking at an event in Detroit last month, Farley told reporters that the company is “going back to our model A,” referring to when Ford built most (if not all) of the components inside the house Ford looks to be going back to its roots as it moves into the EV era, making parts in-house “because that’s where the value creation is.”
After jumping out of the gate this year with the much-anticipated F-150 Lightning electric pickup release, Ford claimed the number-two spot in the US EV market through November.
However, Farley and the rest of the Ford team were not content with second place. Farley explained, “We want to be number one.”
Ford is working to produce 2 million electric vehicles annually by 2030, which the company estimates will require about 240 GWh of battery cell capacity. According to Ford, its new EV battery park will play a big role in getting there.
Ford’s new EV battery plant is on track to begin production in 2025
In a press release from Ford, the company said that construction progress at the BlueOVal SK Battery Park is “scheduled” to begin production in 2025. So far, Ford has made significant progress on the 2.3 -square-mile EV battery factory moving 4.3 million cubic yards of earth (enough to fill 200 football stadiums!), placing rock, pouring concrete, and installing foundations.
SK On president and CEO Jee Dong-seob explains how the battery facility will accelerate the North American EV market, saying:
The BlueOval SK Battery Park will be a key part of the electrification of the North American auto market. We expect SK On and Ford’s leadership in the global electric vehicle market to be solidified through BlueOval SK.
The project is the most significant economic development project in the state of Kentucky and will employ approximately 5,000 new workers with high-tech jobs.
David Hahm, BlueOval SK CEO, commented on the project, saying:
At BlueOval SK Battery Park, we’re building the future – innovative batteries for future Ford and Lincoln electric vehicles and a bright future for Kentucky workers. To produce these batteries, we need a core workforce trained in the latest battery and advanced manufacturing technology.
Ford’s SK EV Battery Plant will train approximately 5,000 new workers at the BlueOval SK Training Center when it opens in 2024. If you are interested in learning more about job opportunities at the new Ford battery park, you can visit here.
FTC: We use auto affiliate links that generate income. More.
[ad_2]
Source link
