Ford to spend record €9.7bn building three battery factories in US       

Since becoming Ford’s boss a year ago, chief executive officer Jim Farley has accelerated efforts to make the switch to an all-electric future, earning a plug from President Joe Biden on the electric F-150 and striking a battery joint venture with South Korea's SK. File  picture

Ford Motor and South Korea’s SK Innovation plan to spend $11.4bn (€9.7bn) to construct three battery factories and an assembly plant for electric F-Series pick-up trucks in Tennessee and Kentucky, the biggest investment in the US carmaker’s history.

The project will create two vast sites to produce electric vehicles and the batteries to power them, employing nearly 11,000 workers, the companies said. Ford is spending $7bn, while battery partner SK is kicking in $4.4bn. They begin to come online in 2025.