Ford Motor Company (NYSE:F) Commits $100 Million Investment In Missouri Facility To Produce Electric Transit Van
Ford Motor Company (NYSE:F) is planning to invest $100 million in its Kansas City factory for the production of an all-electric version of the Transit Van unveiled this week. The company is working on a first electrification project with the upcoming f-150 truck, Mustang Mach-E and now the E-Transit van.
Ford investing in the production of electric vehicles
The investment in the Missouri plant is part of the automaker’s $11.5 billion spendings on electric-car projects through 2022. Already Ford has set aside $3.2 billion for development of the different electric vehicle models.
Kumar Galhotra the company’s President, Americas and international markets group said that they are taking their iconic vehicles and deploying EV tech to enhance performance, capability and productivity. As a result, the company is building the North America manufacturing footprint to support its growth. Galhotra said that this is a start and more EVs and investments are likely to come going forward.
Ford has asserted that electric vehicle manufacturing is essential in upholding requirements of the Paris Climate Accord and attaining carbon neutrality by 2050. The new electric Transit van will go on sale late next year followed by the electric F-150 truck in Mid-2022. On the other hand the new all-electric crossover, Ford Mustang Mach-E will go on sale in December 2020.
Investment to create additional 150 jobs
The company will produce the e-Transit van at the Ford Kansas City factory with the investment adding 150 full-time permanent jobs to meet production. The Blue Oval said that it would retain or add around 425 jobs in Sterling Heights and Dearborn. Ford is assembling the Mustang Mach-E at the Cuautitlan Plant in Mexico while the F-150n electric pickup truck is being assembled at the new Rouge Electric Vehicle Centre in Dearborn.
The automaker said that it plans to increase the production of the F-150 electric pickup by 50% but didn’t offer details on specific production announcements. Ford is also investing $1.35 billion in Ontario to transform the Oakville Assembly Complex as from 2024 to include next-gen battery-electric cars.