(The Center Square) – A supplier will spend $790 million to build two facilities at BlueOval City to supply Ford’s new electric truck factory, according to Tennessee’s Department of Economic and Community Development.
On Thursday morning, the new Magna 800,000-square-foot frame and battery enclosures facility and a 140,000-square-foot seating facility were announced along with a third facility for stamping and assembly in Lawrenceburg, Tennessee.
The announcement did not reveal how much Tennessee would be paying in incentives for the project. Those are expected in an online dashboard within 30 days of the announcement.
The Tennessee Legislature previously approved $884 million in incentives for Ford at the facility during a special session in October 2021.
In all, Magna is expected to employ 1,300 at the three facilities with 750 at the battery enclosure plant and 300 at the seating plant.
The plants are expected to be ready for production in 2025. The components will be used on production of the Ford F-150 Lightning trucks produced at the site. Ford is expected to be able to produce 500,000 electric trucks a year at full production.
“The $790 million investment from Magna will further shape the economic landscape of Lawrence and Haywood counties and strengthen the electric vehicle supply chain in Tennessee for years to come,” Commissioner Stuart C. McWhorter of the Economic and Community Development said in a statement.
The third site will be a 400,000-square-foot stamping and assembly plant with 250 employees that will produce truck frames in Lawrenceburg at the Team Lawrence Commerce Park – West.
