![]() through the Department of Energy to create 7,500 low-road jobs with no consideration for wages, working conditions, union rights or retirement security.” ![]() However, the announcement drew sharp criticism from the United Auto Workers union, which called it “a massive $9.2 billion giveaway loan to Ford Motor Co. The company - named BlueOval SK under the joint venture - must meet milestones before the deal is finalized. The loan would come through the Advanced Technology Vehicles Manufacturing Loan Program. The three battery plants combined are expected to create 5,000 construction jobs, as well as 7,500 operations jobs once the plants are up and running, the Energy Department said in its announcement Wednesday. The companies are planning an $11.4 billion investment in the projects. Additionally, there will be a Ford assembly plant in Tennessee able to build up to 500,000 electric pickup trucks a year. The money for construction would secure a sizable chunk of funding for Ford’s big electric vehicle swing in the two states.įord’s plans include two battery plants in Kentucky and one in Tennessee, each through a joint venture with battery partner SK On, of South Korea. ![]() Department of Energy’s loan program since President Joe Biden took office. (AP) - Massive battery plants planned in Tennessee and Kentucky for Ford’s electric vehicles are on track to receive up to a $9.2 billion federal loan in what would be the biggest award under the U.S. ![]()
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