<p>US car manufacturer Ford said Monday it plans to invest $11.4 billion in electric vehicle production, building four new plants that will create 11,000 new jobs by 2025.</p>.<p>Together with its South Korean partner SK Innovation, Ford will build the factories in Kentucky and Tennessee, the automaker said in a statement.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/audi-pitches-for-lower-import-duties-on-electric-vehicles-1034364.html" target="_blank">Audi pitches for lower import duties on electric vehicles</a></strong></p>.<p>Ford will invest $7 billion, part of a $30 billion investment already announced last spring, and SK Innovation will put up the remainder.</p>.<p>Ford said it would be the "largest, most advanced, most efficient auto production complex in its 118-year history" and would place the company at the forefront of the country's shift to electric vehicles.</p>.<p>The statement said: "This investment supports the company's longer-term goal to create a sustainable American manufacturing ecosystem, and to accelerate its progress towards achieving carbon neutrality, backed by science-based targets in line with the Paris Climate Agreement."</p>.<p>The company expects that between 40 and 50 percent of its global vehicles to be fully electric by 2030, according to the statement.</p>.<p>Executive Chair Bill Ford said, "This is a transformative moment where Ford will lead America's transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing."</p>.<p>"With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive -- protect our planet, build great electric vehicles Americans will love and contribute to our nation's prosperity," he added.</p>.<p>The announcement came amid strong demand for the company's new F-150 Lightning pickup vehicle and other electric models such as the E-Transit and the Mustang Mach-E.</p>.<p>"We are moving now to deliver breakthrough electric vehicles for the many rather than the few," said Jim Farley, the company's CEO.</p>.<p>Echoing a theme close to President Joe Biden's economic plans, he said the investment was "about creating good jobs that support American families."</p>.<p><strong>Check out latest DH videos here: </strong></p>
<p>US car manufacturer Ford said Monday it plans to invest $11.4 billion in electric vehicle production, building four new plants that will create 11,000 new jobs by 2025.</p>.<p>Together with its South Korean partner SK Innovation, Ford will build the factories in Kentucky and Tennessee, the automaker said in a statement.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/audi-pitches-for-lower-import-duties-on-electric-vehicles-1034364.html" target="_blank">Audi pitches for lower import duties on electric vehicles</a></strong></p>.<p>Ford will invest $7 billion, part of a $30 billion investment already announced last spring, and SK Innovation will put up the remainder.</p>.<p>Ford said it would be the "largest, most advanced, most efficient auto production complex in its 118-year history" and would place the company at the forefront of the country's shift to electric vehicles.</p>.<p>The statement said: "This investment supports the company's longer-term goal to create a sustainable American manufacturing ecosystem, and to accelerate its progress towards achieving carbon neutrality, backed by science-based targets in line with the Paris Climate Agreement."</p>.<p>The company expects that between 40 and 50 percent of its global vehicles to be fully electric by 2030, according to the statement.</p>.<p>Executive Chair Bill Ford said, "This is a transformative moment where Ford will lead America's transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing."</p>.<p>"With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive -- protect our planet, build great electric vehicles Americans will love and contribute to our nation's prosperity," he added.</p>.<p>The announcement came amid strong demand for the company's new F-150 Lightning pickup vehicle and other electric models such as the E-Transit and the Mustang Mach-E.</p>.<p>"We are moving now to deliver breakthrough electric vehicles for the many rather than the few," said Jim Farley, the company's CEO.</p>.<p>Echoing a theme close to President Joe Biden's economic plans, he said the investment was "about creating good jobs that support American families."</p>.<p><strong>Check out latest DH videos here: </strong></p>