Ford announces $3.7 billion investment in United States to build new electric pickup trucks and more

Ford announced a whopping $3.7 billion investment across several US states in order to manufacture electric pickup trucks, commercial vehicles, new models of existing vehicles, and more. 

Ford will invest $2 billion in Michigan, where the company is headquartered, creating an estimated 2,000 jobs in the state. Michigan-based goals include increasing production of the F-150 Lightning electric pickup truck, production of a new mid-sized Ford Ranger and a new Mustang.

In addition to the initial $2 million, Ford will also invest an additional $35 million in a new packaging and customer service plant that will ship parts directly to customers.

In Ohio, Ford plans to invest $1.5 billion in the production of a new electric commercial vehicle, scheduled to hit the streets in 2025. Additionally, Ford will invest another $100 million in an engine plant and transmission factory in Ohio. A Kansas City assembly plant is also part of Ford’s $3.7 billion plans.

Ford also plans to spend an additional $1 billion over the next several years making improvements to existing plants and factories, such as installing electric vehicle charging stations in plant parking lots and better lighting, Ford told CNN. The company estimates its new plans will result in about 6,200 unionized jobs in the midwest.

The news comes on the heels of Ford’s electric vehicle competitor, Tesla, announcing this week it will lay off 10 percent of its salaried workforce amid CEO Elon Musk’s alleged uneasiness about the world economy.

The email sent to Tesla employees on Friday reads, “Tesla will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.”