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How Henry Ford Guided Ford's Approach to Chip Shortage - Jim Farley Explains

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Ford  (F) - Get Free Report and SK Innovation are investing $11.4 billion to build a new mega campus in Tennessee and Twin Battery Plants in Kentucky that would create 11,000 jobs.

The $5.6 billion mega campus, which will be known as Blue Oval City in Stanton, Tennessee, will have an all-new electric vehicle manufacturing ecosystem. The automaker says the city will be among the largest auto manufacturing campuses in U.S. history, creating 6,000 jobs.

And BlueOvalSK Battery Park, the twin battery plants in Glendale, Kentucky, will produce batteries for Ford's cars and will bring about 5,000 new jobs to Kentucky. 

CEO Jim Farley, when asked about semiconductors, said that Ford is taking a page out of Henry Ford's book by focusing on vertical integration. 

"The chips, unfortunately...came from Asia for a long time, just like the battery chemistry for these lithium-ion batteries. But, over time, we'll learn how to build them ourselves like we always have and we'll continue to vertically integrate," Farley said. "It's really key, as a country, that we start to bring some of these key electronic components, back home."

Why should investors continue to believe in Ford’s stock? Head to Action Alerts PLUS to hear CEO Jim Farley’s outlook for Ford’s future. Watch the full interview here.

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