Ford BlueOval City

In a significant boost for the US EV industry, Ford’s joint venture, BlueOval SK, has closed a $9.63 billion loan from the Department of Energy’s (DOE) Loans Programs Office.

One of the world’s largest automotive suppliers is investing big bucks to expand its footprint in North America – a market in which it’s already #1. Today, Tennessee’s Governor announced Magna International will invest nearly $800 million dollars to become the first supplier and Ford’s new BlueOval City.