โApr-15-2015 12:29 AM
Reuters) - Ford Motor Co (F.N) on Friday will announce an investment of about $2.5 billion in Mexico, industry sources said, the latest multibillion-dollar outlay in the country's booming auto sector.
Ford will invest $1.3 billion to expand its plant in northern Chihuahua state, where it will build two new diesel engines, with another $1.2 billion planned for a transmission plant in central Guanajuato state, the sources said on Tuesday.
The U.S. automaker will announce the investment in Mexico City on Friday to celebrate the 90th anniversary of its presence in Mexico. President Enrique Pena Nieto will attend the event.
A Mexican official said the Chihuahua investment would probably create about 4,000 jobs.
A Ford spokeswoman in Detroit declined to comment.
Ford is Mexico's fourth-largest auto exporter, according to official industry figures, selling 108,417 units abroad during the first quarter. The majority headed to the United States.
Ford announced its last major investment in Mexico in 2008, $3 billion to update its Cuautitlan plant in central Mexico to produce its popular Fiesta model.
The company also has a factory in the northern state of Sonora, where it produces the Fusion subcompact and the high-end Lincoln MKZ.
In recent years, foreign automakers have expanded their presence in Mexico, lured by its cheap labor, myriad free trade agreements and proximity to the United States.
On Monday, Reuters reported that Toyota Motor Corp (7203.T), the world's biggest automaker, would spend $1 billion to build a new factory in Mexico, producing 200,000 cars a year, and planned to announce the investment on Wednesday.
โApr-15-2015 08:57 PM
FishOnOne wrote:Powerdude wrote:
Is that just the engine casting plant that will go there, or does it do full assembly?
What country do the actual parts that go into the engine come from? Like the pistons and the crankshafts, oil pump and injectors?
I highly doubt that Mexico manufactures highly precise items like piezo-injectors or high pressure fuel pums/oil pumps.
Some of those parts probably come from the US, and maybe final assembly is done in Mexico. Still, it would be better if those engines were assembled in the USA.
Why is it that Cummins somehow makes a profit making engines in the US, and Ford feels like it has to assemble the engines in Mexico?
A lot of the Ford Power Stroke parts come from the states. Isn't the cummins block cast south of the border? And factories in other countries!
โApr-15-2015 08:54 PM
โApr-15-2015 08:46 PM
GoPackGo wrote:
We live in a global economy.
โApr-15-2015 08:18 PM
Me Again wrote:GoPackGo wrote:
We live in a global economy.
And what a great deal it has been for the 1%ers, while the working class got bread crumbs or less.
โApr-15-2015 08:10 PM
GoPackGo wrote:
We live in a global economy.
โApr-15-2015 07:53 PM
Fast Mopar wrote:
Back to the topic posted, it would be nice to have that investment here in the US. We need the jobs.
โApr-15-2015 07:48 PM
Powerdude wrote:
Is that just the engine casting plant that will go there, or does it do full assembly?
What country do the actual parts that go into the engine come from? Like the pistons and the crankshafts, oil pump and injectors?
I highly doubt that Mexico manufactures highly precise items like piezo-injectors or high pressure fuel pums/oil pumps.
Some of those parts probably come from the US, and maybe final assembly is done in Mexico. Still, it would be better if those engines were assembled in the USA.
Why is it that Cummins somehow makes a profit making engines in the US, and Ford feels like it has to assemble the engines in Mexico?
โApr-15-2015 07:43 PM
Powerdude wrote:
Is that just the engine casting plant that will go there, or does it do full assembly?
What country do the actual parts that go into the engine come from? Like the pistons and the crankshafts, oil pump and injectors?
I highly doubt that Mexico manufactures highly precise items like piezo-injectors or high pressure fuel pums/oil pumps.
Some of those parts probably come from the US, and maybe final assembly is done in Mexico. Still, it would be better if those engines were assembled in the USA.
Why is it that Cummins somehow makes a profit making engines in the US, and Ford feels like it has to assemble the engines in Mexico?
โApr-15-2015 07:41 PM
Cummins12V98 wrote:45Ricochet wrote:
Well I knew right away that this wasn't Troy's thread :B
HA no doubt!
Hey Fish what say you?
โApr-15-2015 07:35 PM
GBuilders wrote:John & Angela wrote:GBuilders wrote:
I wonder how much the drug cartel's get?
For what?
They don't need a reason and they seam to have more power then the Mexican government.
โApr-15-2015 06:58 PM
โApr-15-2015 06:17 PM
Tystevens wrote:larry barnhart wrote:Big Katuna wrote:
News alert. Net immigrants illegal and otherwise since 2007 is DOWN 900K.
who is doing the counting??
chevman
Beat me to the question. Interesting that someone thinks they have accurate numbers on this!
โApr-15-2015 06:08 PM
45Ricochet wrote:
Well I knew right away that this wasn't Troy's thread :B
โApr-15-2015 06:02 PM
John & Angela wrote:GBuilders wrote:
I wonder how much the drug cartel's get?
For what?