Ford has joined a joint venture with SK Battery to build three new electric vehicle plants in the U.S. The venture is called BlueOvalSK, according to a news release from Ford.
Ford and SK plan to build two battery plants in Kentucky and one in Tennessee. Ford and SK also plans to build a vehicle assembly plant on 3,600 acres in Stanton, Tenn. to manufacture EV trucks.
Ford plans to invest $7 billion the venture and SK $4.4 billion. Total employment for the joint venture is estimated to be 11,000 people. The plants are slated to open in 2025, Reuters said.
SK Battery is currently gearing up to begin production at its new Commerce facilities. Some of that production will go to Ford and other EV batteries to Volkswagen, which has a plant in Tennessee.