Big investment, zero return as Ford cannot compete in the EV space. No way we will find 500,000 customers unaware of our quality and performance issues.
(Reuters) - Ford Motor Co (F.N) plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction in western Tennessee, the automaker said on Friday.
BlueOval City will assemble several versions of Ford’s next-generation F-series electric pickup, which the company calls Project T3.
The Stanton plant northeast of Memphis is part of Ford’s plan to have global EV production capacity of 2 million vehicles a year in place by the end of 2026.
Ford said BlueOval City will have a general assembly footprint that is 30% smaller than that of a traditional assembly plant, with a higher production capacity. Most current auto plants are designed to build 250,000-300,000 vehicles a year.
Tesla (TSLA.O) earlier this month said its future electric vehicle plants will be up to 40% smaller than traditional plants.
Ford's Project T3 pickup, a successor to the current F150 Lightning, is being developed on a new dedicated EV truck architecture.
Suppliers have said that new platform, which carries the internal designation TE1, will also underpin full-size electric SUVs in 2026 that could supplement or replace the current Ford Expedition and Lincoln Navigator.
The $5.6 billion BlueOval City complex, which is being jointly developed with Korean partner SK On, also will have a battery plant capable of producing about 40 gigawatt-hours worth of cells — enough supply up to half a million EVs a year.