Tennessee, Kentucky battery plants for Ford electric vehicles on track for $9.2B federal loan

FILE - The Ford F-150 Lightning sits on display at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Massive battery plants planned in Tennessee and Kentucky for Ford's electric vehicles are on track to receive up to a $9.2 billion federal loan, in what would be the biggest award under the U.S. Department of Energy's loan program since President Joe Biden took office.

The loan would come through the Advanced Technology Vehicles Manufacturing Loan Program. The company — named BlueOval SK under the joint venture — must meet milestones before the deal is finalized. The department's loan office said it “works with all borrowers to create good-paying jobs with strong labor standards during construction, operations, and throughout the life of the loan and to adhere to a strong Community Benefits Plan.”

Production is also scheduled to start in 2025 at the two battery manufacturing plants being built in Glendale, Kentucky. The venture will employ 5,000 people to produce batteries for future Ford and Lincoln electric vehicles. Ford and its battery partner have invested $5.8 billion in the Kentucky project.

At the projects in Tennessee and Kentucky, Ford has stopped short of offering explicit support for union membership at its new plants. The company has said it’s up to workers to decide.

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