Ford to spend $1.3B to transform Canada factory into EV manufacturing hub

News Summary

  • This is the first time that Ford has completely retooled an existing plant for EVs in North America.Ford also plans to add a 407,000-square-foot battery plant that will use cells and arrays from its BlueOvalSK Battery Park in Kentucky.
  • Ford said Tuesday it will spend $1.34 billion (C$1.8B) to turn its 70-year-old Oakville facility in Canada into an assembly plant for its next-generation of electric vehicles.The campus, which first opened in 1953, will be renamed Oakville Electric Vehicle Complex.
  • Under the arrangement, Ford’s wholly owned subsidiary would manufacture the battery cells using LFP battery cell knowledge and services provided by CATL.
  • The first vehicle to come off the line will be a next-gen electric truck, code named Project T3, in 2025.Construction at BlueOval City began last fall.
  • The upgrade includes completely retooling the facility that currently produces the internal combustion engine-powered Ford Edge and Lincoln Nautilus to one that only produces EVs.
  • The company said Tuesday it will begin modernizing the 487-acre site in the second quarter of 2024.
Ford said Tuesday it will spend $1.34 billion (C$1.8B) to turn its 70yearold Oakville facility in Canada into an assembly plant for its nextgeneration of electric vehicles.The campus, which firs [+2329 chars]