Magna investing $790 million on Ford electric truck supplier plants in Tennessee

Magna is already producing battery enclosures for Ford pickup trucks at a Brampton, Ont., facility as part of numerous electric vehicle production agreements it has with automakers.

The Brampton plant, which the company announced in February as part of a $470 million investment across several facilities in Ontario, will create about 560 jobs at full production while the latest investment in Tennessee will create about 1,300 jobs.

Ford announced on July 16 it was cutting prices on its F-150 Lightning trucks by as much as $15,000 as it works to ramp up production as competition in the sector increases.