The leading auto-maker, Ford Motor Co. is expected to announce investments in three of its Michigan manufacturing plants. The automaker will make the announcement on Tuesday morning. Ford is expected to make significant investments in its Michigan Assembly Plant in Wayne, Flat Rock Assembly Plant and its Romeo Engine Plant.
This will obviously create a lot of jobs. However, it is not yet clear how many jobs will be created or the total dollar amount. The announcement comes less than two weeks after President Donald Trump pushed auto executives to invest in the U.S. and create jobs.
President Trump was speaking during a stop in Ypsilanti Township. The Michigan Strategic Fund meeting agenda for business growth and investments has included Ford, its scheduled to take place on Tuesday. There’s a probability that Ford will receive state incentives. The automaker intends to invest $9 billion in its U.S. facilities through 2019. The investment will yield 8,500 new or retained jobs. The information is based on 2015 contract.
The contract outlines the $700 million investment at Michigan Assembly for its new products, the 2019 Ford Ranger pickup and the all-new Ford Bronco which was planned to be produced by 2020.
The 2015 contract also outlines a $400 million investment planned for Flat Rock for the Ford Mustang and Lincoln Continental production. It also includes a $150 million investment at the Romeo Engine plant for engine updates.
Ford has not made a comment on the precise details of the announcement that’s scheduled to be made on Tuesday. The announcement will come nearly three months after the company made an announcement on the cancellation of plans to construct a new $1.6 billion plant in Mexico.
The automaker made an announcement in January that it would invest $700 million at Flat Rock assembly and create 700 new jobs in Michigan. The investment will also include a new manufacturing innovation center and the factory will be capable of producing electrified and autonomous vehicles.
Apart from the Ford Mustang and Lincoln Continental that it already builds at Flat Rock, it will get two new vehicles: an all-electric SUV with an estimated range of 300 miles that will be built at the plant by 2020, and an autonomous hybrid vehicle will debut in 2021.
President Donald Trump was speaking at the American Center for Mobility earlier in March when he hinted that there was an upcoming auto industry announcement, but did not give details. Trump has emphasized that automakers and manufacturers should construct more factories in the U.S. Mr. Trump has a vision in which he hopes that the U.S. will be the car capitol of the world. Several automakers have rolled out investment announcements for U.S. facilities.
Such automakers include General Motors Co., Fiat Chrysler Automobiles NV, Toyota Motor Corp., Hyundai and Kia. However, the recent trend has proved that President Trump’s vision will materialize.
SOURCE:http://www.detroitnews.com/story/business/autos/ford/2017/03/27/ford-invest/99709766/
