Ford, SK make $11.4B EV bet with new electric F-150 plant, three battery plants

October 06, 2021

Ford (NYSE:F) unveiled plans to team with South Korean battery maker SK Innovation to spend $11.4B to build an electric F-150 assembly plant and three battery plants in the U.S., in a substantial acceleration of its push into electric vehicles.

Ford will build two massive battery factories in Glendale, Ky., and a third in Stanton, Tenn., alongside a new truck factory set to begin producing electric F-series pickups by 2025, creating 11K jobs.

The company says the planned $5.8B Blue Oval City complex in Tennessee "will usher in a new era for American manufacturing," comparing it to the Rouge complex in Michigan a century ago.

Ford expects to spend $7B on the project - which it says is the largest ever manufacturing investment at one time by any automotive manufacturer in the U.S. - and SK plans to chip in with $4.4B, which the companies say will provide enough capacity to build batteries for 1M electric vehicles per year.

Ford says it now expects 40%-50% of its global vehicle production volume will be fully electric by 2030.

The new megacampus and twin battery plants are part of the company's previously announced plan to spend at least $30B through 2030 on vehicle electrification.

For this year the company from Dearborn could earn a total revenue around 127.35 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 127.14 billion USD.

Historical revenues and results Ford Motor plus estimates 2021

The analysts expect for 2021 a net profit of 6.41 billion USD. Most of the analysts anticipate on a profit per share of 1.58 USD. The price/earnings-ratio therefore equals 9.04.

Analysts don't expect the company to pay a dividend. The average dividend yield of the automobile producers is an attractive 2.78 percent.

Ford Motor's market value equals around 57.32 billion . 105

At 17.58 the stock trades 1.75 percent lower at 14.29 USD.

Historical stock prices Ford Motor

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