PO BAG 1: Michigan

Showing posts with label Michigan. Show all posts

4 January 2017

Auto industry's relationship with Trump takes dramatic turn

Ford President and CEO Mark Fields addresses the Flat Rock Assembly Tuesday, Jan. 3, 2017, in Flat Rock, Mich. Ford is canceling plans to build a new $1.6 billion factory in Mexico and will invest $700 million in a Michigan plant to build new electric and autonomous vehicles. The factory will get 700 new jobs.

The auto industry's relationship with President-elect Donald Trump took a dramatic turn Tuesday as Ford Motor Co. decided to shift investment dollars targeted for Mexico to the U.S., while Trump threatened General Motors with a tax on some imported small cars.

Ford is canceling plans to build a new $1.6 billion factory in San Luis Potosi, Mexico, and will instead invest some of that money in a U.S. factory that will build new electric and autonomous vehicles.