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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ford Motor Company | NYSE:F | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.33 | -2.64% | 12.17 | 12.45 | 12.17 | 12.40 | 20,715,731 | 18:08:38 |
By Michael Dabaie
Ford Motor Co. (F) said Wednesday it is expanding its production capacity for battery electric vehicles at a second North American plant.
Ford is targeting investing more than $850 million in the Flat Rock Assembly Plant through 2023, adding a second shift. The plant investment also includes funding to build the next-generation Mustang and is part of a $900 million investment in Ford's operations in southeastern Michigan.
Ford said it is investing approximately $900 million in its southeast Michigan manufacturing footprint and targeting 900 incremental direct new jobs through 2023.
The company also said it will complete its first autonomous vehicles at a new AV manufacturing center in southeast Michigan. Production of Ford's first autonomous vehicles will begin in 2021 for deployment in commercial services.
Ford said it is building its next-generation North American Transit Connect small commercial and passenger van in Mexico, starting in 2021.
Ford shares were down 2.1% to $8.52 Wednesday.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 20, 2019 11:27 ET (15:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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