(The Center Square) – Tennessee has committed to give $13 million in incentives to a supplier for Ford’s new electric truck factory at BlueOval City.
Magna Seating will receive $3 million for its factory at BlueOval City while the companies Cosma International factory at the site in Haywood County will receive $7.5 million. A third manufacturing facility in Lawrence County will receive $2.5 million.
The incentives are set to be approved at a meeting of the State Funding Board on Monday.
The list of statewide incentives also includes two more electric vehicle suppliers with $4.5 million for Hanon Systems USA in Loudon City and $2 million for EnChem America in Haywood County.
McNeilus Truck and Manufacturing will receive $1.3 million for its Murfreesboro facility while additional incentives for unnamed companies for $1 million and $404,000 will be announced at the meeting.
Magna has planned to spend $790 million to build an 800,000-square-foot frame and battery enclosures facility and a 140,000-square-foot seating facility at BlueOval City.
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.
Hanon Systems is a South Korean company that plans to build a $170 million manufacturing facility for its thermal supplies for electric vehicles that include supplies for heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure.
