Ford plans $2.8 million investment in Mexico auto plants

People walk near the Ford exhibit area of the New York International Auto Show. (Shannon Stapleton / Reuters)
People walk near the Ford exhibit area of the New York International Auto Show. (Shannon Stapleton / Reuters)

Reuters

Ford Motor Co on Friday will announce an investment of about $2.5 billion in Mexico, industry sources said, the latest multibillion-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 planned for a transmission plant in central Guanajuato state, the sources said on Tuesday.

A Mexican official said the Chihuahua investment would probably create about 4,000 jobs.

Toyota Motor Corp. is expected to announce Wednesday that it will spend $1 billion to build a new factory in Mexico, producing 200,000 cars a year.

http://www.reuters.com/article/2015/04/14/us-mexico-autos-ford-motor-idUSKBN0N51TM20150414

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