Ford cancels Mexico plant to invest in USA operations

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Ford cancels Mexico plant to invest in USA operations

The company said that Trump was likewise not responsible for its latest decision. It will offer a plug-in hybrid-powered Ford Transit Connect in Europe beginning in 2019 and test a fleet of 20 hybrid Connect taxis in major US cities, and is testing wireless recharging technology in the USA and Europe. In the process, it will also create 700 jobs.

Expansion of the plant will create 700 new jobs, according to the company.

"We're encouraged by the pro-growth policies President-elect Trump and the new Congress have indicated they'll pursue", Fields said.

U.S. Rep. Debbie Dingell, D-Dearborn, said Ford's announcement shows what can happen when federal, state and local officials work together with workers and manufactures to keep jobs in the U.S., adding, "this is a great way to start the new year". And that will help Ford and other people make a decision to buy in the United States, to build in the United States.

A Ford spokeswoman told The Hill that Trump's team was notified of their plans Tuesday morning. The MKC crossover previously appeared destined for Mexico to make room for more Ford Escapes.

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Ford stock jumped 2.5% after the announcement.

A weak market for smaller cars - and not pressure from President-elect Donald Trump - was the main factor in Ford's decision to pull back from plans to build a manufacturing plant in Mexico, company CEO Mark Fields told CNBC on Tuesday (Jan. 3). GM responded by saying only a "small number" of Cruze hatchbacks are shipped from Mexico to the U.S. GM shares gained less than 1 percent.

Uncertainty over the plans of the incoming Trump administration and its approach to US-Mexico trade relations have weighed on the Mexican economy, weakening the peso currency in recent months.

Ford had planned to move production of its Ford Focus small auto to the plant from MI.

Ford does say they still have plans to produce some of their smaller cars in Mexico, which aren't as popular in the U.S. However, they will not need a new facility to roll these cars out. "Ford believes electric vehicles will outsell gasoline-powered vehicles within the next 15 years", the report states. Most notably, Ford plans to introduce a hybrid version of the F-150, America's top-selling pickup truck, and the Mustang.

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