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Ford Motor Co | Document | via Reuters
A battery manufacturing complex that U.S. automaker Ford Motor Co and its South Korean battery partner SK Innovation plan to build in Kentucky, which will open in 2025, can be seen in an artist’s rendition released on September 27. 2021.
Ford shares, after closing 2.7% higher on Monday, added another 3.5% pre-market. U.S. automaker and South Korea-based battery supplier SK Innovation has announced plans to invest more than $ 11.4 billion in new U.S. facilities that will create nearly 11,000 jobs to produce electric vehicles and batteries . Ford doesn’t expect to incur additional debt to fund the plans, according to CEO Jim Farley. He said the moves, which are part of his turnaround plans at Ford, will be funded from company profits.
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