Ford Drops $1.6 Billion on Midwestern Truck, Transmission Plants
You can’t get your hands on the gear-iest transmission in the land without throwing some money around first.
Ford Motor Company announced today that it will spend $1.4 billion to produce their new 10-speed automatic for future F-150s, and invest $200 million into large truck production at its Ohio Assembly Plant.
The big bucks are bound for the Livonia Transmission Plant near Detroit, which makes Ford’s six-speed automatic transmissions and is gearing up to start 10-speed production this June. That unit will take up home in certain F-150 models, including the Raptor.
The 10-speed automatic was a joint venture between Ford and GM, designed for use in high-horsepower, rear-wheel-drive vehicles. Its first GM application will be in the 2017 Chevrolet Camaro ZL1.
Ford’s Ohio investment will support the production of F-350, F-450 and F-550 Super Duty chassis cabs.
Ford’s cash infusion was part of last year’s collective bargaining agreement with United Auto Workers. The company estimates it will allow for the creation or retention of 650 jobs, the bulk of them at Livonia.
More investment is coming under that four-year agreement, which requires Ford to commit to 8,500 hourly jobs in Michigan, Ohio, Illinois, Missouri, Kentucky and New York. The company has 52,000 unionized workers.
[Image: Ford Motor Company]
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