Tennessee lawmakers have approved an $884 million incentive package for the “mega campus” near Memphis where Ford plans to make batteries and electric vehicles, according to the Tennessean.
The money — which is coming from Tennessee’s current $2.1 billion budget surplus — is the single largest investment in the history of the state. It comes at a time when many major automakers are looking to build new facilities in the US dedicated to EVs, batteries, or other supply chain components necessary for electric vehicles.
Ford itself has committed to spending more than $5 billion on the Tennessee project with South Korean battery company SK Innovation, which it calls “Blue Oval City.” Ford is also simultaneously spinning up battery factories...
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Ford nabs $884 million incentive package for EV ‘mega campus’
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October 22, 2021
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