Ford To Invest $2B In Kentucky Plant For Affordable EVs

Ford will invest $2 billion in its Louisville, Kentucky, assembly plant to produce more affordable EVs, according to CNBC. The Louisville investment, combined with a $3 billion Michigan battery park plan, will create or secure nearly 4,000 jobs, Ford said. Ford’s new “Universal EV Program” will launch in 2027 with a midsize, four-door electric pickup built at the Louisville Assembly Plant. Ford CEO Jim Farley said the company aims to build affordable, high-quality vehicles with American workers as the auto industry faces new technology and global competition. He cited pressure from Chinese automakers, startups, and big tech, calling for a radical approach to develop an affordable vehicle. Ford said the Louisville plant will secure about 2,200 jobs after EV retooling, 600 fewer than it employs now.