By Sam Boughedda
Investing.com — Ford Motor Company (NYSE:F) said Tuesday it had begun shipping its new electric transit van from its Kansas City Assembly Plant.
Ford has invested $100 million in the Kansas City Assembly Plant -- the company's first plant to assemble batteries and all-electric vehicles in-house.
The E-Transit is part of Ford's $30 billion investment in electrification through 2025 and becomes the company's latest electric vehicle after the Mustang Mach-E, F-150 Lightning and F-150 Lightning Pro.
The company plans to have a global capacity to produce 600,000 battery-electric vehicles annually by 2023. However, it has recently been hit by chip supply constraints, which have forced it to suspend or slash production at eight of its factories in the U.S., Mexico and Canada.
Today's announcement has had little impact on Ford's shares which are down 0.3% at the time of writing.