Ford Motor Company is preparing to invest $700 million into its Dearborn Truck Plant in order to support production of the all-new Ford F-150 Electric and F-150 Hybrid. The former vehicle was confirmed earlier this year during the 2019 North American International Auto Show in Detroit, and it represents Ford's first foray into the pure-electric pickup truck space.

Production of the two electrified Ford F-150 variants will create an additional 300 jobs at the Dearborn Truck Plant, and the site will add a battery pack assembly facility, where individual lithium-ion cells are assembled into complete vehicle battery packs.

The current aluminum-bodied Ford F-150 lineup will be replaced by an all-new model line in 2020, with a hybrid model - first confirmed all the way back in 2015 - set to debut that same year.

Ford says that the battery-electric model, which won't use an internal combustion engine in any capacity, will follow "soon after." Industry pundits expect that model to arrive sometime late in 2021, as part of Ford's broader planned $11.5 billion global investment into vehicle electrification. Precise powertrain details, such as the truck's anticipated electric range and towing capacity, are still unknown.

In addition to Ford's impending $700 million investment in Dearborn, the automaker will pour $750 million into its Wayne, Michigan manufacturing site over the next three years. That money will support Ford Bronco and Ranger production and facilitate the creation of a new modification center for fitting both models with specialized equipment for customers, as well as retrofitting self-driving equipment to various vehicle models.

The facility is expected to turn out its first autonomous vehicles in 2021, installing the necessary self-driving equipment and replacing the original interiors with ones purpose-built for AV duty. Ford's first autonomous vehicles won't be aimed at consumer sales, instead targeting sales to rideshare and ride-hailing companies.