The company will make electric pickups at an existing plant and batteries at a factory built with a partner, a person with knowledge of the plan said.
The plant, which will employ 1,750 people, will be located outside of Greensboro.
The electric car company is helping Chinese companies become global players in the emerging industry, posing a competitive threat to traditional rivals.
Ford remains an investor, but its own E.V. development plans have progressed since the partnership was announced.
The automaker also reported a big jump in revenue, to $13.8 billion from $8.8 billion a year ago, as sales of the Model Y continue to rise.
General Motors has recalled 141,000 Bolts to replace battery packs that can catch on fire because of manufacturing defects.
The deal could result in the sale of the struggling automaker’s Ohio factory to Foxconn. Lordstown is under federal investigation and needs more cash to mass-produce an electric pickup truck.
The automaker and a supplier will spend $11.4 billion on three battery factories and a truck plant, creating 11,000 jobs.
A report by a liberal think tank tries to quantify the potential employment gains and losses, concluding that subsidies will be crucial.
A report by a liberal think tank tries to quantify the potential employment gains and losses, concluding that subsidies will be crucial.