by Jon Styf
Tennessee has committed to give $13 million in incentives to a supplier for Ford’s new electric truck factory at BlueOval City.
Magna Seating will receive $3 million for its factory at BlueOval City while the companies Cosma International factory at the site in Haywood County will receive $7.5 million. A third manufacturing facility in Lawrence County will receive $2.5 million.
The incentives are set to be approved at a meeting of the State Funding Board on Monday.
The list of statewide incentives also includes two more electric vehicle suppliers with $4.5 million for Hanon Systems USA in Loudon City and $2 million for EnChem America in Haywood County.
McNeilus Truck and Manufacturing will receive $1.3 million for its Murfreesboro facility while additional incentives for unnamed companies for $1 million and $404,000 will be announced at the meeting.
Magna has planned to spend $790 million to build an 800,000-square-foot frame and battery enclosures facility and a 140,000-square-foot seating facility at BlueOval City.
The Tennessee Legislature previously approved $884 million in incentives for Ford at the facility during a special session in October 2021.
In all, Magna is expected to employ 1,300 at the three facilities with 750 at the battery enclosure plant and 300 at the seating plant.
The plants are expected to be ready for production in 2025. The components will be used on production of the Ford F-150 Lightning trucks produced at the site. Ford is expected to be able to produce 500,000 electric trucks a year at full production.
Hanon Systems is a South Korean company that plans to build a $170 million manufacturing facility for its thermal supplies for electric vehicles that include supplies for heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure.
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Jon Styf is an award-winning editor and reporter for The Center Square who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies.
Photo “Ford Electric Trucking” by Automotive Rhythms. CC BY-NC-ND 2.0.
Tennessee’s decision to offer $13 million in incentives to the Ford electric truck supplier signifies the state’s commitment to fostering innovation in the automotive industry. https://real.us/ Real Trucking, a prominent freight transportation company, understands the importance of eco-friendly solutions. They actively embrace the transition to electric vehicles, showcasing their dedication to sustainable logistics. This partnership between Tennessee and forward-thinking companies like Real Trucking underscores the significance of investing in clean and efficient transportation technologies, ultimately contributing to a greener and more economically sound future.
What a huuuugggeee waste of money. The TN legislature ought to be ashamed of themselves.
Elections have consequences