LOUISVILLE, Ky. -- Ford Motor Co. will invest $700 million mainly at its Kentucky Truck Plant in Louisville, creating about 500 new jobs over the next four years, the automaker said Tuesday.
The company made the announcement after a state board approved incentives for Ford's investment in the state. Most of the money will go toward retooling the truck plant, which makes Super Duty pickup trucks and chassis cabs, as well as the Ford Expedition and Lincoln Navigator, large SUVs.
Ford has pledged to add about 500 jobs at the plant by 2026. It now employs about 8,700 hourly and salaried workers.
The investment will support vehicle production, mainly new versions of the Super Duty pickup, according to the company. Ford was expected to unveil Tuesday night a revamped Super Duty for the 2023 model year at Churchill Downs. The truck goes on sale in the spring of next year, according to Ford.
Ford leadership said the company has more than 12,000 people working at two vehicle assembly plants in Kentucky. The company also has about 3,400 workers at the Louisville Assembly Plant, which makes the Ford Escape and Lincoln Corsair small SUVs.
Kentucky Gov. Andy Beshear praised the expansion during a visit to the truck plant Tuesday morning. Beshear said Ford's long history in Kentucky has led to a "special relationship" with the state.
"Together we're going to be building these automobiles and trucks of the future for hundreds of years to come," he said.
Beshear, the only Democrat who holds a statewide office in Kentucky, is eager to tout his administration's economic successes ahead of next year's governor's race.
Along with the recent Ford announcement, the company last year announced it would spend $5.8 billion to build two new electric vehicle battery plants in Hardin County, just south of Louisville.
Another EV battery plant from Japanese firm Envision AESC is planned for southern Kentucky. Beshear unveiled that $2 billion investment in April.