This Friday, Ford Motor Company will be celebrating the 90th anniversary of its presence in Mexico with the typical American party favor: a mountain of cash.
According to Reuters, industry sources close to the London-based business and financial news agency say that Ford Motor Company will be officially announcing a $2.5 billion investment into its Mexican operations. That investment will be split into $1.2 billion toward a new transmission plant in the Guanajuato state, and $1.3 billion toward an expansion of the automaker’s existing Chihuahua state plant.
The latter is reportedly to be commissioned to build two new diesel engines, and an official from Mexico said that it ought to lead to about an additional 4,000 or so jobs at the plant.
Before these yet-to-be-announced investments in Mexico, Ford Motor Company’s last large monetary injection into the country was in 2008, to the company’s plant in the central state of Mexico. That was a $3 billion update to help accommodate production of the Ford Fiesta subcompact.