Ford Starts Its Biggest Bet Against Tesla, GM

Ford announced on September 23 that it had started construction of a giant production site near Memphis Tennessee. The car manufacturer will mainly manufacture electric trucks there and develop, with its South Korean partner SK, batteries which will also be intended for vehicles of its premium brand Lincoln. The cost of construction of this production site, which is supposed to bring the automotive group “closer” to its objective of producing 2 million vehicles per year by 2026, is estimated at $5.6 billion. In 2021, the group only manufactured 27,140 electric vehicles in the United States.

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