Ford Announces $1.6 Billion Investment for Small Car Plant in Mexico
In a move that is sure to make rain-bloated bologna sandwich and current presidential hopeful Donald Trump say things in public with his hideous face-mouth, Ford announced on Tuesday that it will be investing $1.6 billion USD in the construction of a new small car plant in Mexico.
The plant, for which construction will get underway in the summer, will bring 2,800 jobs to San Luis Potosi State and the surrounding areas by 2020. The first vehicles are expected to roll off the production line by 2018.
Ford will specify the vehicles being built at the plant at a later date. It was announced in November that Ford would be wrapping up production of the Focus at its Wayne, Michigan plant by 2018, which makes a next-gen Focus a prime candidate for the San Luis Potosi plant.
Ford has been manufacturing vehicles in Mexico since 1925, and the country is currently Ford’s fourth largest global manufacturing hub behind the United States, China, and Germany. Vehicles built in Mexico are not only sold in the United States and Canada, but also in Argentina, Bolivia, Brazil, Chile, China, Columbia, Paraguay, Peru, Uruguay, and South Korea.
Rumors of the project were originally leaked to Reuters in January, with one source accurately stating that the investment would total around $1.5 billion USD. Two additional sources, said to be familiar with Ford’s plans in Mexico, stated that the plant would ultimately have an annual output at or around 350,000 vehicles.
A little less than one year ago, Ford announced a $2.5 billion investment to build a new engine plant in Chihuahua, Mexico, and a new transmission plant in Guanjuato, Mexico.