January 23, 2017 Leave a comment
January 23, 2017 Leave a comment
January 11, 2017 Leave a comment
Fiat Chrysler said Sunday it would spend $1 billion on U.S. manufacturing, including modernizing plants in Michigan and Ohio, in a move that’s set to add 2,000 new jobs, Reuters reported.
According to the company’s plan, the plant in Warren, Michigan will be made capable of producing a pickup truck currently built in Mexico.
The Warren plant will make the new Jeep Wagoneer and Grand Wagoneer large SUVs. A plant in Toledo, Ohio also will get new equipment to make a new Jeep pickup.
The move by Fiat Chrysler follows a similar recent announcement made by a competing auto brand.
On Tuesday, Ford said it would cancel a $1.6 billion plant planned for Mexico and instead invest $700 million in a Michigan assembly plant. Though CEO Mark Fields said the decision would have gone ahead whether or not Donald Trump was elected president, Fields also said Trump’s “pro-growth policies” gave the company’s executives confidence.
The president-elect has taken many auto manufacturers to task for Mexican production and encouraged building more vehicles in the U.S. He tweeted at General Motors after the Ford announcement on Tuesday, threatening a “big border tax” for producing cars in Mexico and then selling them in the U.S. GM pushed back on that characterization of its business model.
Sunday’s announcement by Fiat Chrysler also follows news a day earlier that the company was recalling 100,000 mostly older trucks and SUVs to replace Takata air bag inflators.
The Associated Press contributed to this report.
January 10, 2017 Leave a comment
Actor Mike Rowe praised plans by two major automakers to invest in American manufacturing, telling Fox News’ Tucker Carlson Monday that the issue “goes right to the national identity.”
Rowe spoke with “Tucker Carlson Tonight” the day after Fiat Chrysler announced it would invest $1 billion into two U.S. factories, a move the company said would create 2,000 jobs. Last week, Ford abandoned plans to build a $1.6 billion auto manufacturing plant in Mexico, a move Rowe described as a “big, fat victory.”
“Look, it’s not just jobs,” Rowe told Carlson. “And when I say that, I don’t mean to minimize it at all, but there’s just something … larger at work here, and it has to do with our identity, it has to do with what it feels like when we’re actually making things as a country.” Read more of this post
January 9, 2017 Leave a comment
Chalk up another win for the president-elect?
Toyota is set to make a $10 billion capital investment in the U.S. over the next five years, Toyota Motor North America chief executive Jim Lentz said during an interview at the Detroit auto show, Reuters reported.
The $10 billion figure matches Toyota’s investments from the previous five years.
The move follows similar commitments to U.S. production made by competitors Ford and Fiat Chrysler.
Donald Trump on Thursday specifically targeted Toyota in a tweet.
“Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax,” Trump tweeted.
On Monday morning, Trump lauded Ford and Fiat Chrysler for their recent announcements in a pair of tweets.
“It’s finally happening – Fiat Chrysler just announced plans to invest $1BILLION in Michigan and Ohio plants, adding 2000 jobs. This after Ford said last week that it will expand in Michigan and U.S. instead of building a BILLION dollar plant in Mexico. Thank you Ford & Fiat C!” he tweeted.
January 4, 2017 Leave a comment
Ford Motor Co. is canceling plans to build a new manufacturing plant in Mexico and instead is investing $700 million in Michigan, the automaker announced on Tuesday.
The company’s CEO, Mark Fields, told CNN that the move is a “vote of confidence” in President-elect Donald Trump’s pledge to create a pro-business environment. Fields emphasized, however, that he did not negotiate any special deal with Trump.
“We didn’t cut a deal with Trump,” he said. “We did it for our business.”
Trump bashed Ford on the campaign trail over the automaker’s plan to invest $1.6 billion in Mexico by shifting its North American small-car production south of the border. Ford had emphasized that the move would not affect U.S. jobs because the automaker would be putting new vehicles into the Michigan plants.
But now Ford will instead build the Ford Focus at an existing plant in Mexico. It will also invest $700 million in its plant in Flat Rock, Mich. and create 700 jobs in an effort to produce more electric and self-driving cars. The automaker has said it plans to build a fully self-driving car by 2021.
“I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers,” said Jimmy Settles, United Auto Workers vice president, according to CNN.
A Ford spokeswoman told The Hill that Trump’s team was notified of their plans Tuesday morning.
Ford is not the only automaker to draw Trump’s ire. Earlier Tuesday, the president-elect blasted General Motors on Twitter, threatening a “big border tax” on GM models made in Mexico.
November 18, 2016 Leave a comment
On Thursday, Trump posted on Twitter: “I worked hard with Bill Ford to keep the Lincoln plant in Kentucky. I owed it to the great State of Kentucky for their confidence in me!”
“He will be keeping the Lincoln plant in Kentucky – no Mexico,” the President-elect tweeted.
But Ford has repeatedly said it has no plans to close any U.S. plants and likely could not do so under the terms of the current United Auto Workers contract that expires in 2019.
This is not the first time Trump’s comments about Ford production have been called into question. Last year, he took credit for Ford moving work from Mexico to Ohio, while the automaker had already made the decision in 2011 – long before Trump announced a run for president.
Spokeswoman Christin Baker said Ford “confirmed with the President-elect that our small Lincoln utility vehicle made at the Louisville Assembly plant will stay in Kentucky”.
“We are encouraged that President-elect Trump and the new Congress will pursue policies that will improve U.S. competitiveness and make it possible to keep production of this vehicle here in the United States,” she added, in a statement.
September 15, 2016 2 Comments
Ford announced today it will be hitting the road, taking its small-car production across the border to Mexico.
So, this had FOXBusiness.com thinking – what other companies have jumped ship, relocating their operations outside of the U.S.? The North American Free Trade Agreement, once thought to be a saving grace for the economy, instead offers access to cheaper labor elsewhere. Combine this with the U.S. corporate tax rate, one of the highest in the world, and you’ve got plenty of incentive for companies to abandon their U.S. bases.
So which other companies have joined the ranks of Ford and moved production out of the U.S.? Here are 5 big businesses taking their jobs elsewhere.
April 8, 2016 Leave a comment
DETROIT/WASHINGTON/MEXICO CITY (Reuters) – Ford Motor Co (F.N) on Tuesday announced it would invest $1.6 billion to build more small cars in Mexico, starting in 2018, triggering a fresh blast of criticism from Republican front-runner Donald Trump. Read more of this post