Ford announced this week it would build a $3.5 billion electric vehicle battery plant in Michigan that the company expects to create about 2,500 jobs.
Ford has set a goal of producing 2 million electric vehicles a year by the end of 2026 and is boosting its U.S. capacity to help meet that mark.
Several other U.S. and foreign automakers have announced lofty goals to transition away from traditional combustion engines and into the future of all-electric lineups.
The Biden administration has helped that push through a series of executive orders and pushing for legislation in Congress to provide companies and consumers with incentives to build and purchase vehicles made within the U.S.
The announcement of the Ford plant came after the Detroit-based company opted against building in other parts of the world and was a significant win for the state that was once the leading producer of automobiles.
In 2022 alone, Michigan brought in over $14 billion in electric vehicle investments.
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