Ford Motors cancels $1.6bn Mexico plant

0
225

Published on January 3, 2017 by pmnews   ·   No Comments

Ford Ford Motors cancels $1.6bn Mexico plant

Ford

Ford has said it will cancel a $1.6bn (£1.3bn) plant it planned to build in Mexico and instead extend operations at its factory in Michigan.

The US car giant will spend $700m on expanding the plant at Flat Rock.

Ford said it needed to re-organise to use existing facilities more efficiently amid falling sales of its smaller cars.

The President-elect has criticised both Ford and its rival General Motors over production of models in Mexico.

Earlier, Donald Trump tweeted his disapproval of GM’s production of the Chevy Cruze in Mexico.
Electric cars

Ford’s chief executive, Mark Fields, said the decision to cancel was in part related to the need to “fully utilize capacity at existing facilities” as sales of small and medium sized cars, such as the Focus and Fusion, fall – but he also said the decision was a vote of…

Read More…..PM News