Ford To Invest $900 Million In Louisville Plant
The Ford Motor Company says it plans to invest $900 million in its Kentucky Truck Plant in Louisville to make the new, aluminum-sided Ford Expedition and Lincoln Navigator SUVs.
The vehicles will go on sale this fall and will be exported to more than 55 markets globally.
The company says the investment will secure 1,000 jobs at the Kentucky Truck Plant, which has about 7,600 total full-time workers.
Plans for Focus production have bounced around over the last few months as Ford tries to squeeze some profits from the ailing small car segment. U.S. Focus sales were down 20 percent through May, hurt by low gas prices and consumer preference for SUVs.
In January, the company announced it would cancel a new plant in Mexico and instead use capacity at another plant in Mexico to build the Focus.
Ford's president of global operations, Joe Hinrichs, said over the last few months, the company decided it could save another $500 million in tooling and other manufacturing costs if it moved production to China.