On Monday, Ford Motor Company and SK Innovation announced plans to invest $5.8 billion in Kentucky to build two electric battery plants, which will create 5,000 new jobs. This announcement marks the single largest economic development project in Kentucky’s history.
The two plants, which will be located in Hardin County’s BlueOvalSK Battery Park, will manufacture advance lithium-ion batteries for north American assembly plants making Ford and Lincoln electric vehicles. Production is expected to begin in 2025.
Ford has been a major investor in Kentucky since 1913, and currently employs about 13,000 direct workers between the Louisville Assembly Plant and Kentucky Truck Plant in Louisville. Overall, the company has helped create jobs for approximately 120,000 Kentuckians.
In response to the announcement Kentucky Chamber President and CEO Ashli Watts released the following statement:
“We are thrilled to see a crucial Kentucky Chamber company, like Ford, expand their investment in the Commonwealth. This announcement will bring the jobs of the future and further secure Kentucky’s role as the leader in auto manufacturing. The Chamber thanks the Governor and the General Assembly for recognizing the importance of this investment.”
“Ford is very excited to make this historic investment in the great state of Kentucky,” said Lisa Drake, Ford North America chief operating officer. “Kentucky has been an incredible partner to Ford for more than 100 years and is home to Louisville Assembly Plant and Kentucky Truck Plant. With this announcement, Kentucky will play an essential role as Ford fulfills its commitment to lead the electric vehicle revolution and create thousands of jobs in the commonwealth, and we look forward to working with Kentuckians to create the future together.”
“We thank Ford Motor Co. and SK Innovation for their investment in Team Kentucky,” said Gov. Andy Beshear. “This is the single largest investment in the history of our state, and this project solidifies our leadership role in the future of the automotive manufacturing industry. It will transform our economy, creating a better Kentucky with more opportunities for our families for generations. Our economy is on fire – and now, it’s electric. Never again will we be thought of as a flyover state. Our time is now. Our future is now.”
Ford is a key investor in the Kentucky Chamber, and the company’s regional governmental affairs director Gabby Bruno is a member of the Chamber board of directors.