Ford To Spend $1.3 Billion To Transform Canada Factory Into EV Manufacturing Hub

Ford said Tuesday it will spend $1.34 billion (C$1.8B) to turn its 70-year-old Oakville facility in Canada into an assembly plant for its next-generation of electric vehicles. TechCrunch reports: The campus, which first opened in 1953, will be renamed Oakville Electric Vehicle Complex. The company said Tuesday it will begin modernizing the 487-acre site in the second quarter of 2024. The upgrade includes completely retooling the facility that currently produces the internal combustion engine-powered Ford Edge and Lincoln Nautilus to own that only produces EVs. This is the first time that Ford has completely retooled an existing plant for EVs in North America. Ford also plans to add a 407,000-square-foot battery plant that will use cells and arrays from its BlueOval SK Battery Park in Kentucky. Workers will assemble the components into battery packs and then install them into EVs produced at the plant. "I'm most excited for the world to see the incredible next-generation electric and fully digitally connected vehicles produced in Oakville," CEO Jim Farley said in a statement.

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