FRANKFORT, Ky. (WYMT) – In a release Monday evening, Governor Andy Beshear, along with officials from the Ford Motor Company and SK Innovation announced a nearly $6 billion economic development project set to create 5,000 jobs in the state during the next several years.
Ford and SK Innovation will build two electric battery plants in the BlueOvalSK Battery Park area of Hardin County, investing a record $5.8 billion. Workers at the park will supply Ford’s North American assembly plants will produce batteries that will power new Ford and Lincoln electric cars, trucks, and SUVs. Production of the advance lithium-ion batteries will start in 2025.
The plants will be built off of Interstate 65 in the Glendale area, generating 86 gigawatt hours of power.
The project will be fully unveiled at a news conference Tuesday afternoon at 4:30 p.m. at the State Capitol in Frankfort. Gov. Andy Beshear will be joined by Ford Executive Chair Bill Ford, CEO Jim Farley, and the president of SK Innovation’s battery division Dong-Seob Jee at the news conference.
“We thank Ford Motor Co. and SK Innovation for their investment in Team Kentucky,” said Gov. Beshear. “This is the single largest investment in the history of our state, and this project solidifies our leadership role in the future of the automotive manufacturing industry. It will transform our economy, creating a better Kentucky with more opportunities for our families for generations. Our economy is on fire – and now, it’s electric. Never again will we be thought of as a flyover state. Our time is now. Our future is now.”
“Ford is very excited to make this historic investment in the great state of Kentucky,” said Lisa Drake, Ford North America chief operating officer. “Kentucky has been an incredible partner to Ford for more than 100 years and is home to Louisville Assembly Plant and Kentucky Truck Plant. With this announcement, Kentucky will play an essential role as Ford fulfills its commitment to lead the electric vehicle revolution and create thousands of jobs in the commonwealth, and we look forward to working with Kentuckians to create the future together.”
“I applaud Ford for their decision to bring their new battery plants to Hardin County, which will provide a much-needed economic boost to the region and create thousands of well-paying Kentucky jobs,” said Senate Minority Leader Mitch McConnell. “With Ford’s commitment, we have further solidified our role as a world-class automotive state on the cutting edge of research and development. I look forward to continuing to pursue pro-business policies in Kentucky and nationwide that will allow great American companies like Ford to continue to prosper and grow our economy.”
The 5,000 announced jobs do not include construction, supplier, or dealership jobs. Ford expects at least 40% of its global sales to be electric vehicles by 2030.
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