Ford will invest $3B in Mexico
The Dearborn automaker confirmed plans to build the North American version of its new Ford Fiesta subcompact at its Cuautitlán Assembly Plant.
Ford also will add a new diesel line at its Chihuahua Engine Plant and is planning to build a new joint-venture transmission factory with German supplier Getrag in Guanajuato. It provides a cost advantage making it in Mexico," said Erich Merkle, a product analyst at IRN Inc. in Grand Rapids.
CEO Alan Mulally was on hand for the announcement, along with Mexican President Felipe Calder¢n Hinojosa.
"Ford is absolutely committed to leveraging our global assets to accelerate the shift to more fuel-efficient small cars and powertrain technologies that people really want and value," Mulally said. "Our investments in these facilities in Mexico are part of our plan to further realign our manufacturing capacity in line with the introduction of more small cars and crossovers."
The moves are expected to create about 4,500 new Ford jobs south of the border, as well as 30,000 direct and indirect support jobs.