Diversified parts supplier Magna International Inc. said July 20 it will spend $790 million to build three new factories in Tennessee to provide Ford Motor Co. with components for its upcoming electric pickup production there.
Two of the factories will be built at BlueOval City, Ford's 3,600-acre manufacturing complex in Stanton, Tenn., where the automaker will build next-generation electric pickups and EV battery cells. The complex includes a supplier park, and Magna said its plants there will be the largest supplier factories on site.
Aurora, Ontario-based Magna, North America's largest auto supplier, said it will build EV battery enclosures, vehicle frames and complete seats at the factories starting in 2025. The plants are expected to employ up to 1,300 people, the company said.
The largest of Magna's new factories will be an 800,000-square-foot plant that produces battery enclosures. In an email to Automotive News, the company said it "could employ up to 750 employees" at the site as production ramps up.