July 20 (Reuters) - Canadian auto parts maker Magna International Inc (MG.TO) said on Thursday it will invest $790 million to build three new supplier facilities, two of which will be housed at Ford Motor Co's (F.N) BlueOval City campus in Tennessee.
The development comes as suppliers race to meet requirements from automakers, who have been hustling to boost their electric vehicle output as demand for environmentally friendly vehicles surges.
Magna's facilities will support production of Ford's second-generation electric truck, the Canadian company said in a statement.
Ford in March said it plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction.
A third Magna facility in Lawrenceburg will produce vehicle frames, the company said.
Persons:
Ford's, Magna, Priyamvada, Nivedita
Organizations:
Magna International Inc, Ford Motor, Ford, Thomson
Locations:
BlueOval City, Tennessee, Ford's, BlueOval, Detroit, Lawrenceburg, Bengaluru