Ford Motor Company CEO Jim Farley announced on Sunday a $3 billion investment in a new electric vehicle (EV) battery manufacturing facility in Georgia, reinforcing the automaker’s commitment to electrification and competition with industry leaders Tesla and General Motors. The facility, set to open in 2027, is expected to create over 5,000 jobs and significantly boost domestic battery production.
Securing the EV Supply Chain
Speaking at a press event in Atlanta, Farley emphasized the strategic importance of the investment.
“This investment is about more than building batteries—it’s about building the future of Ford and the future of mobility,” Farley said.
Advanced Battery Technology
The new facility will produce lithium-iron-phosphate (LFP) batteries, known for being more affordable and durable than traditional lithium-ion batteries. Ford plans to integrate these batteries into popular electric models, including the F-150 Lightning and Mustang Mach-E.
Strategic Alignment
This initiative aligns with U.S. automakers’ broader efforts to:
– Localize EV supply chains.
– Reduce reliance on overseas suppliers.
The investment is bolstered by federal incentives under the Inflation Reduction Act, encouraging domestic EV manufacturing.
Industry and Market Response
Analysts have praised Ford’s decision as a critical step to remain competitive in the rapidly expanding EV market. The announcement also underscores Ford’s commitment to its goal of producing 2 million electric vehicles annually by 2026.