Magna International is pumping more than US$790 million to build parts plants in the U.S. to support Ford electric pickup truck production.
The Aurora, Ont., headquartered auto parts manufacturer plans to build two facilities in Stanton, Tenn. The facilities will be included in a supplier park for Ford’s BlueOval City that will be capable of producing 500,000 electric trucks a year, according to Canadian Press.
The plants will supply Ford with battery enclosures, truck frames and seats for its second-generation electric truck, while Magna will also build a stamping and assembly facility in Lawrenceburg, Tenn.
Magna is already producing battery enclosures for Ford pickup trucks at its Brampton, Ont., facility as part of numerous electric vehicle production agreements it has with automakers.
The Brampton plant, which the company announced in February as part of a C$470 million investment across several facilities in Ontario.