MEMPHIS, Tenn — One of the world’s largest automotive suppliers is moving into Ford’s BlueOval City in West Tennessee.
The Tennessee Governor’s Office and the Department of Economic and Community Development announced Thursday that Magna will invest more than $790 million to build two facilities at the Ford megasite in Stanton. Magna also plans to build a third stamping and assembly facility in Lawrenceburg, Tennessee.
Magna said the combined investment will bring more than 1,300 new jobs to the state. The company said about 1,050 of those jobs will be at the plants in Stanton. Positions include engineering, operations, finance, IT, HR, Business development, supply chain, and more. The company has not said if they plan to mostly hire from the West Tennessee area, or what the average pay for positions is expected to be.
According to Magna, the company will supply BlueOval City with battery enclosures, truck frames, and seats for Ford’s second-generation electric truck. Ford has said it’s plant will be able to produce 500,000 electric trucks each year once it is at full production.
“Tennessee is leading the future of American automotive manufacturing, thanks to our thriving business climate, record economic growth and highly skilled workforce,” said Gov. Bill Lee in a news release. “We welcome Magna as the first supplier for Ford’s BlueOval City and appreciate this company’s $790 million investment in Tennessee.”
“The $790 million investment from Magna will further shape the economic landscape of Lawrence and Haywood counties and strengthen the electric vehicle supply chain in Tennessee for years to come,” said TNECD Commissioner Stuart C. McWhorter.
“These opportunities not only strengthen our relationship with a valued customer, but also reflect the depth and breadth of our capabilities across the vehicle,” said Eric Wilds, chief sales and marketing officer for Magna. “We are thankful to the state of Tennessee for their support and partnership.”
Production at all three plants is planned to begin in 2025.
Those interested in applying for a position can visit www.magna.com/southern-usa.