Posted : 2021-05-20 22:39
Updated : 2021-05-20 22:41
Bill Ford, Jr., Executive Chairman of Ford Motor Company, speaks at the reveal of the new all-electric Ford F-150 Lightning pickup truck at Ford World Headquarters, May 19. AFP-Yonhap
South Korean battery maker SK Innovation (SKI) and American automaker Ford Motor will establish a 6 trillion won ($5.3 billion) joint venture in the United States to produce batteries for electric vehicles, the two companies said Thursday.
The two companies signed a memorandum of understanding on the joint venture, called BlueOvalSK, to build a battery factory with 60 gigwatt hours (GWh) of production in the U.S. by the mid-2020s.
KUOW - Ford Says Electric F-150 Will Start Under $40,000 It Can Also Power Your Home kuow.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuow.org Daily Mail and Mail on Sunday newspapers.
UpdatedTue, May 18, 2021 at 8:16 pm ET
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President Joe Biden speaks after a tour Tuesday of the Ford Rouge EV Center in Dearborn, Mich. (AP Photo/Evan Vucci)
DEARBORN, MI President Joe Biden visited the Ford Motor Co. Electric Vehicle Center in Dearborn on Tuesday, a day ahead of when the company is set to release its all-new electric F-150 truck, and declared that the future of the auto industry is electric. There s no turning back, Biden said shortly after touring Ford s new facility, which will manufacture its new electric truck, called Lightning. The American auto industry is at a crossroad, Biden said. The real question is whether it will lead or fall behind in the race of the future.
How And When To Watch Ford s All-Electric F-150 Lightning Pickup Truck Reveal ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.