Ford announced Monday it will invest $2 billion and secure nearly 2,200 jobs in a Louisville, Ky., assembly plant that will build affordable electric vehicles.

Ford on Monday announced it would invest $2 billion in a Louisville, Kentucky, assembly plant aimed at rolling out more affordable electric vehicles. The investment comes on top of $3 billion already planned for a battery park in Michigan.

Ford says it will invest nearly $2 billion to retool a Kentucky plant to produce electric vehicles. The automaker says the goal is to produce EVs that are more affordable, profitable to make and outcompete rival models.