Ford to Unveil $2.5 Billion Mexico Investment
April 15, 2014—Ford Motor Co. on Friday plans to announce an investment of roughly $2.5 billion in Mexico, industry sources told Reuters, in the latest multi-billion dollar outlay in the country's booming auto sector.
Ford will invest $1.3 billion to expand its plant in northern Chihuahua state, where it will build two new diesel engines, with another $1.2 billion destined for a transmission plant in central Guanajuato state, the sources said.
The U.S. automaker will announce the investment in Mexico City on Friday to celebrate the 90th anniversary of its presence in Mexico. President Enrique Pena Nieto will attend the event.
A Mexican official said the Chihuahua investment would probably create roughly 4,000 jobs.