Ford To Announce $2.5B Investment In Mexico On 90th Anniversary
This Friday, Ford will announce a $2.5-billion investment plan for two of its factories in Mexico.
According to Reuters, Ford will spend $1.3 billion to expand its engine production facility in northern Chihuahua for two new diesels, with the remaining $1.2 billion to go a transmission plant in Guanajuato. A government representative said the Chihuahua investment would create 4,000 jobs as a result.
The announcement will be made in Mexico City in celebration of Ford’s 90th anniversary in Mexico, with Mexico president Enrique Peña Nieto set to attend. Ford’s previous major investment occurred in 2008, when the automaker spent $3 billion to update the Cuautitlan plant for production of the Fiesta.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
More by Cameron Aubernon
Comments
Join the conversation
Given the drug cartel violence in Mexico, I'm surprised any foreign company would expand its facilities there. Maybe the reports, like the premature ones of Mark Twain's death, are greatly exaggerated.
Once upon a time the average Detroit auto worker made around $35 an hour. And there was much grousing about the workers being overpaid. So factories moved to right to work states in the south. Once upon a time the average southern auto worker made around $24 an hour. Auto companies enjoyed massive tax breaks to bring the jobs south. Detroit turned into a rotted out husk. Still, there was much grousing by the shareholders about workers being overpaid. So factories moved to Mexico. Once upon a time the average Mexican autoworker made around $4 (USD equivalent) an hour. And there was much grousing about them being overpaid...
Speaking of anniversaries, this Tax Day is my third anniversary with TTAC. On this day in 2012, I introduced fashion blogging into this piece about the New York Auto Show: http://www.thetruthaboutcars.com/2012/04/a-new-writer-offers-a-new-look-at-the-nyias/
Quick: List all sub-$20k cars that are NOT built in Mexico. Chevy Sonic Hyundai/Kia Mazda3 um, and...?