Ford Invests $11.4 Billion Toward Electric Vehicle Plants
During President Biden’s first year in office, the plan to work with Congress to enact legislation that, by the end of his first term, puts America on an irreversible path to achieve economy-wide net-zero emissions no later than 2050. Residents of Stanton, Tennessee, and Glendale, Kentucky, patiently await the day Ford Motor Company can officially invest $11.4 billion toward electric vehicle plants. The Biden administration aims to stop emissions by securing the vote of two fundamental legislative bills. On Thursday, October 07, 2021, lawmakers voted on the first $1 Trillion infrastructure plan. The other, a $3.5 Trillion bill focused on widening America’s social safety net.
“We are determined that we were going to deal with climate change,” Biden said. “Have zero net emissions by 2050.”
The announcement of the news attracted unprecedented attention from economists and political spectators. However, during an interview with BBC, Ford said its statement was not timed to coincide with this week’s voting on Capitol Hill.
“This is our moment - our biggest investment ever - to help build a better future for America,” - Jim Farley, CEO of Ford Motor Company.
President Biden wants to create 10 million good-paying, middle-class, union jobs. Ford reports their support for the passage of both bills, which would “help more Americans get into electric vehicles, while at the same time supporting American manufacturing and union jobs.” What will this look like for people with limited education? Research shows the degree attainment gap decreased in 2019; 29% of the Black population aged 25 to 29 held a bachelor’s degree or higher, compared to 45% of the white people in the same age range.
After World War 1, Ford Motor Company employed 1,675 black people, making it the largest employer of Black workers in America. Even though many of Ford’s Black employees worked as janitors at the River Rouge Plant, some were employed as skilled machinists, factory supervisors, or white-collar positions. Ford paid equal wages for equal work, with blacks and whites earning the same pay in the same jobs. Ford is developing facilities that will require qualified staff to operate effectively. How will this investment impact today’s black people, and will Ford’s history of income equality be a thing of the past?