- Ford plans to assemble and sell more vehicles in Latin America.
- The bulk of the $2.65 billion investment will come in Brazil.
- Part of the money is allocated for development of a Ford Fiesta-based crossover.
BUENOS AIRES, Argentina — On a tour of Latin America this week, Ford CEO Alan Mulally said the automaker will invest an additional $450 million in its Argentinian and Brazilian operations — over and above the $2.3 billion investment in Brazil announced last fall.
Mulally said Ford will spend $250 million over the next two years in Argentina, much of that to upgrade its Pacheco assembly plant to build an all-new global vehicle for Latin American markets. The Pacheco plant currently builds the Ford Focus and Ranger.
In Brazil, Mulally said Ford would invest another $200 million to develop a new Fiesta-based EcoSport crossover model for Latin American markets.
Back in November, Ford said it would spend about $2.3 billion to expand and upgrade its Camacari and Sao Bernardo plants in Brazil.
Inside Line says: Ford, like several of its competitors, is investing billions in a high-growth region. — Paul Lienert, Correspondent
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tenta20 says:
08:47 AM, 04/10/2010
About damn time. Brazilian love Ford products down there, about time Ford showed them a little love.
syrax says:
07:17 PM, 04/09/2010
GM and VW better wake up in here. Fiat and Ford are always coming up with new cars while Chevy offer old cars on older platforms and VW is not ashamed to call an updated MkIV Golf a new car. That and the immortal T2.