ManagementFord to invest $400 mn in producing new Explorer SUV
Ford Motor has said it will invest $400 million (around Rs 1,850 crore) in its manufacturing facilities here to produce next version of Explorer SUV by 2010-end and the move will create 1,200 jobs.
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"The company will add 1,200 new jobs to staff a second production shift at Chicago assembly plant and increase production at the nearby Chicago Stamping Plant.
"Ford’s $400 million investment includes approximately $180 million in manufacturing investment at the Chicago sites and about $220 million for launch and engineering costs," Ford’s President of The Americas Mark Fields said yesterday.
In addition, Ford would also be making "significant investment" in supplier tooling to support next-generation Explorer production.
The current Explorer and Explorer Sport Trac models are built at the company’s Louisville assembly plant in Kentucky.
Shifting production of the new Explorer to Chicago assembly paves the way for the Louisville assembly to undergo transformation to a flexible, fuel-efficient small car plant from a truck-based SUV plant.
The new Explorer will deliver at least 25 per cent better fuel economy than the current model.
The vehicle would feature Ford’s EcoBoost engine technology and the company would provide full details about the new Explorer later in the year.