Ford and South Korean battery manufacturer SK Innovation will spend a combined $11.4 billion to build several new factories in the Tennessee and Kentucky focused on the development and production of electric vehicles and the batteries that power them.

The new facilities represent the first new plants built by Ford, completely from scratch, in over 50 years. The Tennessee plant will be a “mega campus” that houses a vehicle-production facility for Ford’s F-series pickup trucks and a battery assembly division, while the twin factories in Kentucky will manufacture lithium-ion batteries.

“This is show, not tell time”

The facilities won’t come online until 2025, but Ford CEO Jim Farley says the investment signals the seriousness with which…

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