Ford will invest $700 Million in the Kentucky truck plant to create 500 more jobs

There is no introduction needed for the Famous Ford Brand. Ford is a multinational automobile manufacturing company based in America, Henry ford is the man behind this motor company and He founded it in 1903.

The main focus of the company is to sell vehicles and automobiles. It also sells luxury cars that come under it Lincoln luxury brand.

This company made 13,630 crores USD last year by selling automobiles and commercial cars. Ford is number 2 on the automaker’s list in the united states. The company always prefer a customer-first scheme in which their more focus on customer need rather than on earning money.

Customer’s Satisfaction First

The company majorly works according to customer satisfaction, because by this scheme buyers become their loyal customers. So Company will then earn kinda like recurring sales.

This strategy is also applied by some other well-known companies. This is good to go as the customer and company both are satisfied with the scheme.

Ford will Invest $700 Million

On Tuesday, the Ford Company revealed that it will invest $700 million in the Kentucky plant to support the production of its upcoming F series Super truck that will be available by 2023.

Ford Company and its associated South Korean company declared in 2021 that they will invest nearly 11 billion dollars to build an electric F-150 assembly plant and three battery plants in the United States of America.

The company reportedly spend equally in two states, $5.8 billion in Kentucky and $5.6 billion in Tennessee. This project will create 5000 Jobs that will give jobs to some unemployed people.

The Kentucky Economic Development Finance Authority revealed on Tuesday that they approved a supplement project with a ford company that will provide up to $430 million in cumulative tax incentives based on the ford company’s total cumulative investment of $3.65 billion.

(Read More – Commissary Contractor Monitor Jobs in Beale AFB, CA)

Annual Job Target For Ford Company

But KEDFA Sets an annual job target of up to 12,500 as a term of the agreement. If ford company achieves the annual target then it will keep some portion of the new tax revenue. Ford aims to hit the target of jobs for 12,000 people in Kentucky.

The F-Series truck franchise generated nearly $40 billion which is almost 1/3 of ford company global revenue. That means Ford Company’s f series is growing gradually and resulting in more revenue for the company.

But the graph of F-series Truck franchise sales drops by 11 percent in august. 6,842 were electric F-150 Lightning trucks that were sold in August.

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