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

Ford Motor Co 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

Overview Rating:

Speculative

0100