Ford Motor Company will spend nearly $2 billion to change its Louisville Assembly Plant in Kentucky. The plant, which has been making gas-powered cars for 70 years, will now focus on making electric vehicles (EVs).
Ford’s CEO, Jim Farley, spoke to workers and said this is a very important project that could change the car industry. He called it a “once-in-a-career” chance.
Starting in 2027, the plant will build a new electric pickup truck. This truck will be big enough to seat five adults, will accelerate fast like the Mustang EcoBoost, and will use cheaper batteries made in a $3 billion factory in Michigan.
Ford said this change is as important as when Henry Ford first created the assembly line for cars. The new plant will have a smarter way of assembling parts, which will reduce the number of parts by 20%, use fewer fasteners, cut down workstations by 40%, and make the assembly process 15% faster.
Ford wants to make electric vehicles that are affordable, aiming for a starting price around $30,000, and also profitable. The plant is expected to create or keep about 2,200 jobs.
Kentucky’s Governor, Andy Beshear, said this investment is one of the biggest ever in the state. He said it will make Kentucky a key place for electric vehicle innovation and strengthen Ford’s future in Louisville.
With the battery factory in Michigan included, Ford’s total investment will be around $5 billion and will help secure or create nearly 4,000 jobs.
Farley said Ford chose to build the plant in Kentucky instead of overseas because they want to compete strongly with other companies, especially Chinese makers. He said Ford’s goal is not just to build many electric cars but to create a successful and profitable electric vehicle business that customers will love.
He also warned that there are risks involved. Many affordable car projects have failed before, but Ford wants to change that and succeed with this one.
