Ford opens $260M campus in Mexico
Near Mexico City, it will be Mexico's largest engineering center to date
Jim Farley reveals the automaker's next generation truck and explains why 5G capability is so important to Ford's truck driving clients on 'The Claman Countdown.'
U.S. automaker Ford Motor Co opened its new global technology and business center on the outskirts of Mexico's capital on Monday after a $260 million investment.
The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company's Twitter account.
The campus, located in the municipality of Naucalpan, is set to host 9,000 employees working in a hybrid manner, splitting time between home and the campus, Ford Motor said in a statement.
Several foreign auto companies have expanded operations and announced new investments in Mexico this year.
2021 Ford Mustang Mach-E
James Farley, president and chief executive officer of Ford Motor Co., speaks during a launch event for the 2022 Ford F-150 Lightning all-electric truck at the Rouge Electric Vehicle Center in Dearborn, Michigan, on April 26, 2022. (Emily Elconin/Bloomberg via Getty Images)
Jim Farley the CEO of Ford addresses the crowd during the introduction of the Ford New Super Duty Truck at the historic track at Churchill Downs on Sept. 27, 2022 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)
FORD AND GM BOTH SAY THEY HAVE THE BEST-SELLING TRUCKS. SO WHO DOES?
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 13.47 | +0.15 | +1.13% |
In October, foreign automakers Volkswagen and Continental pledged major investments totaling nearly $1 billion, while earlier this year, Nissan announced an investment of $700 million over the next three years.
FORD SALES FELL 8.9% IN SEPTEMBER AFTER STELLAR JULY AND AUGUST GAINS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STLA | STELLANTIS NV | 11.04 | +0.01 | +0.09% |
| TESLA | NO DATA AVAILABLE | - | - | - |
The influx of money from the automotive industry could continue in Mexico, after Jeep maker Stellantis reported to be looking to invest billions to make electric vehicles in the country and Tesla Chief Executive Officer Elon Musk is considering investing in the country's north, according to sources consulted by Reuters.
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