5 things to know before the stock market opens Tuesday
Ford Motor Co | Handout | via Reuters
A battery manufacturing complex U.S automaker Ford Motor Co and its South Korean battery partner SK Innovation plan to build in Kentucky, opening in 2025, is seen in an artist’s rendition released September 27, 2021.
Shares of Ford, after closing up 2.7% on Monday, were adding another 3.5% in the premarket. The U.S. automaker and South Korea-based battery supplier SK Innovation announced plans to invest more than $11.4 billion in new U.S. facilities that will create nearly 11,000 jobs to produce electric vehicles and batteries. Ford does not expect to take on any additional debt to fund the plans, according to CEO Jim Farley. He said the moves, which are part of his turnaround plans at Ford, will be funded through the company profits.