Ford Motor Company plans to invest $11.4 billion and create nearly 11,000 new jobs at three new plants in Tennessee and Kentucky to produce the automaker’s next generation of electric F-Series trucks and the batteries to power future electric Ford and Lincoln vehicles.

Ford and a partner company say they plan to build three major electric-vehicle battery factories and an auto assembly plant by 2025.

Ford Motor Company plans to invest $11.4 billion and create nearly 11,000 new jobs at three new plants in Tennessee and Kentucky to produce the automaker’s next generation of electric F-Series trucks and the batteries to power future electric Ford and Lincoln vehicles.

Ford is forming a joint venture that will build two North American factories to make make batteries for roughly 600,000 electric vehicles per year by mid-decade.

Two big South Korean electric vehicle battery makers said they've settled a long-running trade dispute that will allow one company to move ahead with plans to manufacture batteries in Georgia.