{"id":34008,"date":"2022-06-02T19:51:19","date_gmt":"2022-06-02T19:51:19","guid":{"rendered":"https:\/\/harchi90.com\/ford-to-invest-3-7-bln-for-production-of-evs-gas-powered-vehicles\/"},"modified":"2022-06-02T19:51:19","modified_gmt":"2022-06-02T19:51:19","slug":"ford-to-invest-3-7-bln-for-production-of-evs-gas-powered-vehicles","status":"publish","type":"post","link":"https:\/\/harchi90.com\/ford-to-invest-3-7-bln-for-production-of-evs-gas-powered-vehicles\/","title":{"rendered":"Ford to invest $ 3.7 bln for production of EVs, gas-powered vehicles"},"content":{"rendered":"<div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">DETROIT \/ WASHINGTON, June 2 (Reuters) &#8211; Ford Motor Co (FN) on Thursday said it will invest $ 3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford, whose shares were up 2.4% in afternoon trading, said $ 2.3 billion of the total investment will be spent on EVs, part of the $ 50 billion in EV spending through 2026 it had previously outlined.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford officials said the company will receive incentive packages of about $ 150 million and about $ 200 million from Michigan and Ohio, respectively.<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI article-body__inline-registration-prompt__1-N9W\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">As part of the investments, the Michigan-based automaker said it will add more than 6,200 hourly jobs and convert 3,000 temporary workers into full-time employees who will receive healthcare benefits and higher pay.  It also will add a new electric commercial vehicle to its mid-decade lineup.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford in March said it was boosting its spending on EVs to $ 50 billion through 2026, up from $ 30 billion previously.  It also said it would run its EV and internal combustion engine (ICE) businesses as separate units in a move aimed at catching EV industry leader Tesla (TSLA.O).  read more <\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The company has said it plans to build more than 2 million EVs a year globally by the end of 2026, about one-third of its global production.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">US President Joe Biden issued an executive order in August setting a goal for automakers selling 50% of new vehicles by 2030 as electric or plug-in hybrid models.<\/p>\n<figure data-testid=\"image-0\" class=\"article-image__figure__3SBJc article-body__element__2p5pI\">\n<div data-testid=\"StatefulImage\" class=\"stateful-image__container__hH_Q_ stateful-image__light__2XHJA article-image__image__31ytm\">\n<div data-testid=\"Image\" class=\"stateful-image__image__ThpeM\"><noscript><\/noscript><\/div>\n<\/div><figcaption data-testid=\"Body\" class=\"text__text__1FZLe text__medium-grey__3A_RT text__regular__2N1Xr text__small__1kGq2 body__base__22dCE body__caption__3L8vY article-image__figcaption__ttQIt\">A new Ford E-Transit van is seen inside the company&#8217;s Halewood plant in Liverpool, Britain, October 18, 2021. REUTERS \/ Phil Noble<\/figcaption><\/figure>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Biden said in a statement that Ford&#8217;s announcement on &#8220;electric vehicles is great news for American workers.&#8221;  He said Ford&#8217;s announcement &#8220;isn&#8217;t an accident&#8221; but stems from US investments in electric vehicle charging infrastructure and the battery supply chain.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford on Thursday said it will invest $ 2 billion at three plants in Michigan to increase production of the new F-150 Lightning pickup truck to 150,000 &#8211; an action it previously outlined in April &#8211; as well as build new gas-powered versions of the Ranger pickup and Mustang sports car.  The new jobs in the state will total 3,200.  read more <\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Kumar Galhotra, president of Ford&#8217;s Ford Blue internal combustion division, said the new investment would boost its EV production plans but added &#8220;for the millions of loyal Ford customers who aren&#8217;t ready to go electric yet, who will want and need Ford&#8217;s great gasoline -powered vehicles for years to come, we will continue to build great new, iconic vehicles. &#8220;<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The company&#8217;s Ohio operations will see $ 1.6 billion in investment and the creation of almost 1,900 jobs, including the new commercial vehicle.  The company did not provide details on the vehicle to be built in Avon Lake, but Auto Forecast Solutions said it will be the next generation of the e-Transit van, starting in 2026.<\/p>\n<p data-testid=\"paragraph-11\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">About $ 100 million will be spent in Missouri to add 1,100 workers for a third shift at an assembly plant outside Kansas City to boost production of the electric and gas Transit vans, Ford said.<\/p>\n<p data-testid=\"paragraph-12\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford employed about 56,000 US hourly workers at the end of 2021. They are represented by the United Auto Workers union, with which Ford will negotiate a new labor agreement next year.<\/p>\n<p data-testid=\"paragraph-13\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Ford also said $ 1 billion of Thursday&#8217;s total will be spent over the next five years to &#8220;improve workplace environments&#8221; in the plants, including providing better access to healthy food, installing EV chargers in parking lots, and improved security and lighting in plant parking lots .<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__PU3Aj\">Reporting by Ben Klayman in Detroit;  additional reporting by David Shepardson;  Editing by Mark Porter and Jonathan Oatis<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Our Standards: The Thomson Reuters Trust Principles.<\/p>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DETROIT \/ WASHINGTON, June 2 (Reuters) &#8211; Ford Motor Co (FN) on Thursday said it will invest $ 3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles. Ford, whose shares were up 2.4% in afternoon trading, said $ 2.3 billion of the total investment will be &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/ford-to-invest-3-7-bln-for-production-of-evs-gas-powered-vehicles\/\"> <span class=\"screen-reader-text\">Ford to invest $ 3.7 bln for production of EVs, gas-powered vehicles<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[56,730,5997,731,732,999,25,1836,1837,255,256,29,997,733,74,1003,1004,259,260,265,735,16388,64,16392,87,511,2313,513,2315,2316,6922,284,285,75,57,16390,16391,16393,16389,512],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.reuters.com\/resizer\/uw0-Bwb6avdd7eg5upUBEBUHAws=\/1200x628\/smart\/filters:quality(80)\/cloudfront-us-east-2.images.arcpublishing.com\/reuters\/IRDFNI5DZNJUVKUTKWOVJ4KOVU.jpg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/34008"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=34008"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/34008\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=34008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=34008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=34008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}