Ford: Ford to invest $3.7 billion to produce EVs, gas-powered vehicles – Times of India

Detroit: Wade The motor company said on Thursday it would invest $3.7 billion in assembly plants in Michigan. ohio and Missouri for the production of both electric and gasoline-powered vehicles.
Ford said $2.3 billion of the total investment would be spent on EVs, accounting for the $50 billion in EV spending it previously outlined by 2026.
Ford executives said the company would get stimulus packages of about $150 million and $200 million from Michigan and Ohio, respectively.
As part of the investment, the Michigan-based automaker said it would add more than 6,200 hourly jobs and convert 3,000 temporary workers into full-time workers who would receive health care benefits and higher wages. It will also add a new electric commercial vehicle to its lineup in the middle of the decade.
Ford said in March that it was increasing its spending on EVs to $50 billion by 2026, up from $30 billion previously. It also said it would run its EV and internal combustion engine (ICE) businesses as separate entities with the aim of capturing the EV industry leader. Tesla,
The company has said that it plans to manufacture more than two million electric vehicles annually globally by the end of 2026, which is about a third of its global production.
Ford said Thursday that it will invest $2 billion in three plants in Michigan to increase production of the new F-150 Lightning pickup truck to 150,000 — an action previously outlined in April — as well as the production of the Ranger pickup. creation of new versions and wild horse of america Sports car. The total number of new jobs in the state will be 3,200.
The company’s Ohio operations will result in an investment of $1.6 billion and the creation of approximately 1,900 jobs, including new commercial vehicles. The company did not give details about the vehicle to be built in Avon Lake, but auto forecasting solution Said it will be the next generation of e-transit vans starting in 2026.
Ford said about $100 million will be spent in Missouri to add 1,100 workers in the third shift at an assembly plant outside Kansas City to boost production of electric and gas transit vans.
Ford employed about 56,000 US hourly workers at the end of 2021. they are represented by United Auto Workers union, with which Ford will negotiate a new labor deal next year.
Ford also said that $1 billion of Thursday’s total will be spent at the plants over the next five years to “improve the workplace environment,” including providing better access to healthy food, installing EV chargers in parking lots and the plant. Parking includes improved security and lighting. ,