by Christopher Freeburn | December 27, 2012 9:53 am
More automotive manufacturing jobs are coming to Michigan, thanks to rising sales of Ford‘s (NYSE:F) pickup trucks and fuel-efficient hybrid vehicles.
The automaker plans to spend $773 million to increase capacity at six existing production plants across the state, adding 2,350 new hourly jobs, RTT News notes.
The investment comes as Ford seeks to ramp up production of its F-series pickup trucks and hybrid vehicles lines. Expanding its Michigan facilities is part of an overall plan to spend $6.2 billion to enhance Ford’s U.S. manufacturing operations by 2015.
In addition to the new jobs, the expansion will allow the company to keep 3,240 current hourly workers. Ford’s Dearborn Stamping Plant will receive $305 million in upgrades, while another $161 million will be spent at a manufacturing facility in Flat Rock. Ford expects to add 12,000 hourly positions at its U.S. facilities within three years.
Earlier this month, the Environmental Protection Agency said it would review fuel-consumption ratings for Ford’s C-Max Hybrids and Fusion Hybrids after Consumer Reports tests recorded mileage that was significantly below EPA estimates.
Shares of Ford slipped fractionally in Thursday morning trading.
Source URL: https://investorplace.com/2012/12/fords-expansion-plans-to-create-2350-new-jobs/
Short URL: http://invstplc.com/1ftotoM
Copyright ©2018 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.