Ford cancels $1.6 billion dollar plant in Mexico in favor of upgrades to US plant

[Sticky]

Ford Motor Company announced today it will scrap its plans to build a new $1.6 billion dollar factory in Mexico. It will instead invest $700 million at a factory in Michigan. Ford states the decision was not made due to Donald Trump winning the presidency.

However, Bill Ford did say in a somewhat contradictory tone that Trump's policy goals influenced the decision. Bill Ford notified Mr. Trump of the decision today.

The president elect quickly took to Twitter:

Interestingly, Trump predicted this would happen in June of 2015:

They’ll say,‘Mr. President we’ve decided to move the plant back to the United States — we’re not going to build it in Mexico.’ That’s it. They have no choice

Either way Ford is scrapping the plant in Mexico, investing in the United States, and their stock is up 3.3% as of this writing.

Source

[richpike]

Ford did mention it was due to the more positive business climate from Trump's proposed policies. Their main point was no "deal" had been made to keep them (ala Carrier).

However you may feel about him, Trump has some very positive business policies coming down the pipeline. One of the biggest would be a way for international companies to bring cash stored in other countries back at a reduced tax rate. That would be a huge one time boost. My biggest concern is him putting some sort of tariff on goods made overseas - protectionism is a spiral down effect.

-Rich

[Sticky]

Ford did mention it was due to the more positive business climate from Trump's proposed policies. Their main point was no "deal" had been made to keep them (ala Carrier).

But they said they would have done it if he was going to be president or not which I don't buy.

[BlackJetE90OC]

Trump is responsible, no matter how this is spun.


Ford CEO:

“We look at all factors and in our view, we see a more positive U.S. manufacturing environment under President-elect Trump and the pro-growth policies and proposals that he’s talking about,” Fields said. “So this is a vote of confidence for President-elect Trump and some of the policies he may be pursuing.”

[Sticky]

I agree. If it wasn't Trump they would already be building it in Mexico.

People can say what they want he is having a great impact on the automotive industry already.

Now if he could just do something about CARB...