Ford is investing $1.3 billion to transform its Oakville Assembly Plant in Canada into the Oakville Electric Vehicle Complex, in an effort to become the top electric vehicle (EV) maker in the world. The facility will be modern, super-efficient, and vertically integrated for battery and vehicle assembly. While it is unclear which EV models will be built at the facility, Ford CEO Jim Farley stated that Canada and the Oakville complex will play a vital role in the company’s Ford+ transformation.
The project is expected to take six months to complete, during which time some of the plant’s 3,000 workers will be furloughed. However, Ford expects virtually all of them to return once the transformation is complete in 2024. The Oakville Electric Vehicle Complex is part of Ford’s larger efforts to expand its EV production and meet growing demand for electric vehicles worldwide.
Ford has been making strides in the electric vehicle market in recent years, with the release of models like the Mustang Mach-E and F-150 Lightning. The company has also pledged to spend $30 billion on electric vehicles by 2025, with plans to have 40% of its global sales be electric by 2030.
The transformation of the Oakville Assembly Plant is a significant step in Ford’s ambitious plans for the future of electric vehicles. By creating a modern, super-efficient facility for EV production, Ford is positioning itself to compete with other major players in the EV market and meet the growing demand for sustainable transportation.