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Stock impact report

KY remains ‘EV battery capital of the US' despite BlueOval layoffs, Beshear says [Yahoo! Finance]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: Yahoo! Finance
Ford Motor Co. announced Monday that it will repurpose the facilities at BlueOval SK in Glendale for an energy storage operation. The now defunct joint venture between the automaker and the South Korean battery maker to produce batteries for electric vehicles will be converted to manufacture a special kind of lithium-ion cells, battery energy storage system modules and 20-foot modular data center containers. Roughly 1,600 people working at BlueOval SK will be laid off in the transition , Ford executive Andrew Frick said Dec. 15. The new energy storage business in Kentucky will have 2,100 employees, about 400 fewer than were anticipated to work at one of two completed facilities in Glendale. BlueOval SK employees will be given the required 60-day notice of termination required by the Worker Adjustment and Retraining Notification Act and will be given the opportunity to reapply for a job with Ford as it starts its new energy storage business. Beshear said in a statement to the He Show less Read more
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