Ford stated that is canceling plans to develop a new plant in Mexico, but instead will update a facility in Michigan, saving American 700 jobs.
From PATRIOT Journal:
Ford CEO Mark Fields stated a factor in the choice was “the pro-growth policies that President-elect Trump and the new Congress have indicated that they will pursue.”
” We believe that these tax and regulatory reforms are critically important to boost U.S. competitiveness and, of course, drive a resurgence in American manufacturing and high-tech innovation,” he stated.
Ford CEO says he’s encouraged by Pres.-elect Trump’s ‘pro-growth policies’ during announcement that company will cancel new Mexico plant. pic.twitter.com/BBMnSY3QoZ
— ABC News (@ABC) January 3, 2017
” The $700 million investment will go to the Flat Rock, Michigan plant to produce more electric and self-driving cars. Ford believes electric vehicles will outsell gasoline-powered vehicles within the next 15 years,” based on CNN Money.
” The plans are part of a broader $4.5 billion investment in electric vehicles and hybrids, including 13 new models over the next five years,” USA Today reported.
Ford intends to make hybrid Mustangs and F-150 pickup trucks, amongst other vehicles.
Ford’s new EV push adds electrified F-150, Mustang, Transit Custom & all-electric small SUV by 2020; fully autonomous hybrid coming 2021. pic.twitter.com/7oo3Fq70F8
— Ford Motor Company (@Ford) January 3, 2017
” Trump repeatedly slammed Ford on the campaign trail, claiming the company was moving good manufacturing jobs to Mexico. He vowed to slap a 35% tariff on Ford vehicles made in Mexico and sold in the U.S,” CNN Money revealed.
Trump has now turned his focus to General Motors, intimidating a tariff on the car manufacturer if it moves jobs to the south of the border. He tweeted on Tuesday:
General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!
— Donald J. Trump (@realDonaldTrump) January 3, 2017
In a declaration, GM said it develops only the hatchback version of the Cruze “for global markets in Mexico, with a small number sold in the U.S.” A GM spokesman declined to comment further, The Wall Street Journal stated.
“Mr. Trump has routinely called for a rework of the North American Free Trade Agreement with Mexico and Canada and proposed installing steep tariffs on companies that move or have moved production outside the U.S. and sell those products in America,” corresponding to The Journal.
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