Ford considers growing EV supply chain in Kentucky
Ford is considering growing its electric vehicle (EV) supply chain in Kentucky. The legacy automaker is considering Shelbyville for a $400 million car parts factory that will heavily focus on EV components.
“Ford Motor Company is considering Shelby County for a small, specialized high-tech component manufacturing operation. The components would primarily be used for EVs,” according to the minutes of a Kentucky Economic Development Finance Authority board meeting.
Ford’s car parts factory in Shelbyville would likely contribute to the automaker’s growing supply chain in Kentucky. A few counties away from Shelbyville, Ford and South Korean battery supplier SK On are constructing their $5.8 billion BlueOval SK battery park. The BlueOval SK battery park is estimated to generate 5,000 new jobs in the area. It is also expected to be a conduit for regional business growth.
Ford’s car parts factory is expected to create 260 new jobs in the area, with an average hourly wage of $36 an hour, plus benefits. Governor Andy Beshear told The Courier Journal that Kentucky state has approved incentives for investments similar to the one Ford is considering in Shelbyville.
Ford’s $400 million investment is eligible for tax credits under the Kentucky Investment incentives. The automaker’s potential car parts factory is also eligible for sales and use refunds provided by the Kentucky Enterprise Initiative Act.
Ford recently reported a 61% growth in electric vehicle sales for Q2 2024. Despite its EV sales growth, Ford has significantly downsized its EV battery production plans. As a result, the state of Michigan cut Ford’s incentives by over half to $409 million.
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Source: https://www.teslarati.com/ford-kentucky-ev-supply-chain/
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