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Tag: SK Innovation

  • Ford Building EV Plants in Kentucky and Tennessee, Creating 11,000 Jobs

    Ford Building EV Plants in Kentucky and Tennessee, Creating 11,000 Jobs

    Ford has announced it is investing $11.4 billion to create four plants in Kentucky and Tennessee, bringing 11,000 jobs to the region.

    Like most auto makers, Ford is racing to transition its lineup to electric vehicles. The company is set on leading the industry, building on the success it’s had with the Mach-E.

    As part of its plans, Ford, along with partner SK Innovation, is investing $11.4 billion to build a truck factory in Tennessee, as well as three battery plans, one in Tennessee and two in Kentucky. The investment will create 11,000 new jobs, 6,000 in Tennessee and 5,000 in Kentucky.

    “This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” said Ford Executive Chair Bill Ford. “With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive – protect our planet, build great electric vehicles Americans will love and contribute to our nation’s prosperity.”

    “This is our moment – our biggest investment ever – to help build a better future for America,” said Jim Farley, Ford president and CEO. “We are moving now to deliver breakthrough electric vehicles for the many rather than the few. It’s about creating good jobs that support American families, an ultra-efficient, carbon-neutral manufacturing system, and a growing business that delivers value for communities, dealers and shareholders.”

  • Electric F-150 Battery Supply Endangered by Import Dispute

    Electric F-150 Battery Supply Endangered by Import Dispute

    Batteries for the electric F-150 may be in short supply due to an import dispute involving the Korean supplier Ford is using.

    The International Trade Commission (ITC) has banned Korea-based SK Innovation from importing batteries to the US for 10 years, according to Bloomberg. The ruling comes as a result of an accusation from Korea-based LG Chem, accusing SK Innovation of stealing trade secrets. The seemingly harsh ban was the result of SK Innovation destroying evidence LG Chem needed to prove its case.

    The ITC did provide a grace period to give automakers, including Ford and Volkswagen, time to make alternate arrangements. SK Innovation can import components for the F-150 for four years, and for the Volkswagen’s MEB line for two years.

    There are two factors that could play to SK Innovation’s favor. The company is building a factory in Georgia that will become operational later this year. While some components are still slated to be imported, when faced with a 10-year ban, the company may try to move all production to the US.

    As Bloomberg highlights, President Biden could also overrule the ITC’s decision on public policy grounds. Given the front-and-center focus climate change and green energy is taking in the new administration, it’s entirely possible SK Innovation’s ban may be seen as too damaging to electric vehicle endeavors.