Ford Collaborates with Kentucky on Future of BlueOval SK EV Battery Plant
Ford Motor Co. is partnering with Kentucky state officials to market an unused plant at the BlueOval SK site for new economic development. The plant, spanning 600 acres, follows the termination of over 1,500 workers after Ford and SK On ended their joint venture. Ford plans to pivot to battery energy storage systems with a $2 billion investment to create 2,100 jobs. The company will also assume a $250 million forgivable loan from the state, subject to investment and job creation commitments.
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Ford Motor Co. is collaborating with Kentucky officials to market an unused plant at the BlueOval SK site for economic development after the termination of over 1,500 workers due to the split with SK On. The second plant covers 600 acres and aims to attract investment and job creation.
Ford plans to shift focus to battery energy storage systems with a $2 billion investment, creating 2,100 jobs. Additionally, Ford will assume a $250 million forgivable loan from the state, contingent on meeting investment and job creation targets. Failure to attract investment may lead to accelerated repayment demands from the state.
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