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Benzinga
Benzinga
Business
Shivani Kumaresan

Thousands Of Jobs, $3.7B Investment, EV Focus: Lots To Look Into Ford's Midwest Plan

Ford United States Ford Motor Co Michigan Missouri UAW United Auto Workers Ohio Environment
  • Ford Motor Co (NYSE:F) plans to add more than 6,200 new union manufacturing jobs in Michigan, Ohio, and Missouri and invest $3.7 billion.
  • Ford and United Auto Workers also agreed to convert nearly 3,000 temporary UAW-Ford workers to permanent full-time status and provide all hourly employees healthcare benefits on the first day of employment.
  • The new jobs are expected to further create 74,000 indirect jobs in the U.S. by 2026.
  • Specifically, the plan includes a $2 billion investment and 3,200 union jobs in Michigan, a $1.5 billion investment and 1,800 union jobs at Ohio Assembly Plant, and a $95 million investment and 1,100 union jobs in Missouri.
  • The automaker will invest $1 billion over five years to improve the workplace environment in U.S. plants.
  • The investment and jobs support the Ford+ strategy to produce 2 million electric vehicles a year globally by the end of 2026.
  • Price Action: F shares traded higher by 2.36% at $13.87 on the last check Thursday.
  • Photo Via Company
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