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Ford Motor Co. (NYSE:F) will begin production activities at the Kentucky EV battery plant, which the company established alongside South Korean Battery Manufacturer SK On.
The first battery manufactured by the joint venture, BlueOval SK, rolled off the production line at the Kentucky plant, SK On announced in a statement on Tuesday. The batteries produced by the plant will power the F-150 Lightning Pickup Truck.
"The start of production is a significant milestone that strengthens our position in the electric vehicle battery market," Michael Adams, BlueOval SK CEO, said in the statement.
The joint venture will also produce batteries to power the Ford E-Transit fleet vehicles, offering better range on a single charge, the announcement mentioned.
The news comes as Ford recently announced an all-new platform that will form the basis of the company's affordable electric vehicle lineup, poised to take on competition from Chinese manufacturers.
Ford CEO Jim Farley, during the company's second-quarter earnings call, had hailed the breakthrough as a "Model T" moment for the Michigan-based automaker.
Elsewhere, Ford announced a $5 billion investment in domestic manufacturing activities, which the company says would create over 4,000 jobs at the Louisville plant and the BlueOval Battery Park in Michigan.
However, the announcement by the company follows reports earlier this year that the company would let Japanese automaker Nissan Motor Co. Ltd. (OTC:NSANY) share half of the plant in Kentucky.
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