Auto parts manufacturer Magna plans to invest more than $790 million to build two facilities to supply Ford Motor Co. with parts at Ford’s new electric truck factory in Tennessee, officials said Thursday.
Magna will create about 1,300 new jobs across three plants with two in Stanton and one assembly plant in Lawrenceburg, state officials said.
Ford is building an electric pickup truck factory in rural Stanton in a joint venture with South Korean battery manufacturer, SK On. The Detroit-based automaker said the assembly plant and the battery plant will employ about 6,000 people with an investment of roughly $5.6 billion.
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Ford plans to start production by 2025 and build up to 500,000 trucks a year at full output.
Magna’s two locations at the so-called BlueOval City in Stanton include a new frame and battery enclosures plant and a seating facility, officials said. Stanton is located about 50 miles east of Memphis.
Ontario, Canada-based Magna also will make truck frames in Lawrenceburg, about 130 miles east of Stanton.
