Canada-based car component manufacturer Magna International is set to spend $790m for the construction of three new supplier facilities, reported Reuters.
Of the new plants, two will be located at Ford Motor Company's BlueOval City complex in Tennessee, US.
Up to 1,300 jobs are projected to be generated through the investment, the news agency said.
The facilities will assist in the manufacturing of Ford's second-generation electric truck, with one factory at the complex to produce battery enclosures for the vehicle.
Another of the facilities will produce polyurethane foam, as well as seats for the vehicles.
The latest move is aimed to cater to the surging demand for electric vehicles (EVs), which has led affiliated car manufacturers to boost the production of their vehicles.
In March this year, Ford announced that it intends to create up to 500,000 electric trucks annually at its BlueOval City facility, which is currently under development.
This plant will assemble multiple variations of Ford's F-series electric truck, codenamed Project T3.
Ford also outlined a plan in May 2023 to profitably scale up EV sales. However, it also faces the challenge of cutting $7bn in related expenses in order to achieve this goal.
A third Magna factory is planned in Lawrenceburg, which will manufacture car frames.
All three facilities are set to commence production in 2025.
