Ford to invest $4.7bn to improve manufacturing plants
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US-based automaker Ford is reportedly planning to invest $3.7 billion to add over 6,200 union jobs to its manufacturing plants in Michigan, Ohio, and Missouri.
The automaker also plans to invest another $1 billion in the next five years to improve the workplace environment in its factories based in the US, reports Teslarati.
Besides adding 6,200 permanent Union Auto Workers (UAW) employees, Ford also expects its $3.7 billion investment to indirectly generate an estimated 74,000 new jobs in the US by the end of 2026.
The automaker plans to convert 3,000 temporary employees into permanent full-time workers with immediate health benefits on the first day of employment.
"Ford is America's Number 1 employer of hourly autoworkers, and this investment only deepens our commitment to building great new vehicles, from an all-new Mustang to new EVs, right here in the US in partnership with the UAW," Bill Ford, executive chair of Ford, was quoted as saying.
The report mentioned that Ford also aims to produce 2 million electric vehicles per year globally by 2026 through its Ford Model e trademark -- a separate operation dedicated to EV production.
Besides its investment announcements, Ford also confirmed the launch of an all-new electric commercial vehicle for Ford Pro customers in Ohio. The Ford Pro electric commercial vehicle is expected to debut "mid-decade".
