Ford Motor Co. announced Thursday that it will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri, where both electric and gasoline cars will be produced.
Ford is embarking on a series of multibillion-dollar investments to expand its production capacity: A total of $3.7 billion (about $1,400 billion) will be spent on electronic vehicles and conventionally powered models. Of the total funding, $2.3 billion will be spent on electric vehicles as part of its $50 billion strategy through 2026 described earlier.
Ford also said it will receive some support from state budgets: Michigan will invest about $150 million, while Ohio will invest $200 million. The company said the company at its former factory will create more than 6,200 jobs an hour and turn 3,000 temporary employees into full-time employees who will receive health care and higher wages. Reuters.
Ford announced in March that it would increase its spending on electric vehicles to $50 billion by 2026 from $30 billion previously. He also announced that he will run the EV and internal combustion engine (ICE) business as a separate unit, which he wants to catch up with the leader in the electronic car maker, Tesla.
The company said it plans to produce more than two million electric cars worldwide by the end of 2026, which is about a third of its global production.
US President Joe Biden issued a decree in August that set a target for automakers to sell 50 percent of new cars by 2030 as electric models or plug-in hybrids. So Ford wants to partially meet that.
At the end of 2021, the automaker employed about 56,000 hourly American workers. They are represented by the United Auto Workers union, with which Ford will negotiate a new work contract next year.
Ford also said $1 billion of Thursday’s amount will be spent on improving the working environment in factories over the next five years. For example, healthy food will be served in the canteen, but there will also be electronic chargers in employee parking lots.
(Cover Photo: Hwang Dinh Nam/AFP)
