04
Jan
17:21
Ford cancels $1.6 billion Mexican auto factory project
US automaker Ford has reversed its decision to build a $1.6 billion factory in Mexico and will instead spend $700m to upgrade its extant Michigan works, Kallanish reports.
In a press conference, Ford ceo Mark Fields attributed the decision to dwindling demand for light vehicles, which would have been the focus of the Mexico facility.
Ford announced its intention to shift some light vehicle production to a new $1.6 billion facility in Mexico in April. In June,…
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