Ford (F) - Get Free Report and battery supplier SK Innovation announced plans to invest $11.4 billion to build a new mega campus in Tennessee and Twin Battery Plants in Kentucky that would create 11,000 jobs, TheStreet's Katherine Ross reported.
“This is our moment – our biggest investment ever – to help build a better future for America,” Ford CEO Jim Farley said. “We are moving now to deliver breakthrough electric vehicles for the many rather than the few. It’s about creating good jobs that support American families, an ultra-efficient, carbon-neutral manufacturing system, and a growing business that delivers value for communities, dealers and shareholders.”
As of intraday trading, amid the broader market selloff, Ford stock was up 1.69% to $14.40.
Recap TheStreet Live: Everything Jim Cramer Is Watching 9/28/21
Ford is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.