A group of Ford Motor Co. investors sent a letter to the company’s board, asking it to address concerns over reported union-busting activity at a Kentucky battery plant and lack of engagement with Black communities surrounding its BlueOval City project in Tennessee.
The letter references three electric vehicle battery plants — two in Kentucky and one in Stanton, Tennessee — run by BlueOval SK, a 50/50 joint venture between Ford and Korea-based SK On.
While BlueOval SK is a separate legal entity from Ford, the signatories note the “significant leverage and influence Ford has over this joint venture,” and call on the company to “expeditiously address these serious concerns.”
The 14 investors who signed the letter urged board members to respond at Ford’s virtual annual shareholders meeting Thursday. Combined, the investors represent more than $58 billion in total assets under management, though their individual stakes in Ford are not public. Investor Advocates for Social Justice, which coordinated the investors’ effort, also signed.