Ford’s Tennessee campus will produce 500,000 electric vehicles annually
Ford BlueOval City’s electric vehicle and battery manufacturing campus in West Tennessee is due to begin production in 2025. It will be home to Ford’s second-generation electric truck, codenamed Project T3, and will be able to produce 500,000 EV trucks a year. production.
Ford Motors The company said Friday that a new plant being built outside of Memphis, Tennessee, will be able to produce 500,000 electric vehicles a year at full capacity.
The first and only product announced so far for the BlueOval City plant is the next generation electric truck, which Ford has codenamed “T3”, short for “TrustTheTruck”.
“Project T3 is a once-in-a-lifetime opportunity to revolutionize America’s trucks,” Ford CEO Jim Farley said in a press release Friday. “It will be a platform for endless innovation and opportunity.”
Additional products using the next-generation electric vehicle architecture could be produced alongside the truck, however a company spokesman declined to comment on future plans for the plant.
Ford and South Korean battery supplier SK On are investing $5.6 billion in the BlueOval City campus, including a major battery cell factory. Production at the plants should begin in 2025, Ford said on Friday.
BlueOval City is a key part of Ford’s plans to produce 2 million electric vehicles in 2026, which is also the target for the company’s Model e EV business to achieve an EBIT margin of 8%.
Ford on Thursday detailed its finances for the first time for business units, including electric vehicles, which lost $2.1 billion last year and are expected to lose up to $3 billion in 2023.