Ford's announcement outlined seven electrified vehicles - including a hybrid F-150 pickup - on their way to North America in the next five years.
North America-based automotive manufacturers are facing increased pressure to build their products in the U.S. - President elect Donald Trump can be thanked for that - and Ford is the latest to commit more money and product to its U.S. facilities. The company today announced a $700 million investment in its Flat Rock, Michigan plant to build a new electric SUV, an autonomous vehicle for ridesharing, and a hybrid Mustang.
Ford's announcement outlined seven electrified vehicles - including a hybrid F-150 pickup - on their way to North America in the next five years. In addition to the financial infusion, there will be 700 new hires at the Flat Rock plant.
In its press release, Ford pointed out that it's cancelling plans for a new $1.6 billion plant in San Luis Potosi, Mexico, with $700M of that money going toward Flat Rock's new plans. It's probably not a coincidence that earlier today, Trump tweeted out to General Motors, threatening the car company with taxes if it moved car production out of the U.S.
Ford is dedicating $4.5B toward electrified vehicles by 2020, and based on today's announcement, it seems no vehicle in the Blue Oval's lineup is being overlooked for electrification.
"As more and more consumers around the world become interested in electrified vehicles, Ford is committed to being a leader in providing consumers with a broad range of electrified vehicles, services and solutions that make people’s lives better," said Mark Fields, Ford president and CEO. "Our investments and expanding lineup reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years."