Ford Announces $1 Billion Investment In Chicago, Rolls Out 2020 Explorer

Ford Announces $1 Billion Investment In Chicago, Rolls Out 2020 Explorer

Ford Announces $1 Billion Investment In Chicago, Rolls Out 2020 Explorer

Ford announced it's spending a billion dollars to upgrade its two Chicago plants and adding 500 new jobs. In addition, several 3D printed tools will be installed to help employees build the utility vehicles.

"When it's all finished, Chicago Assembly will have an all new state-of-the-art body shop, an all-new paint shop and new tooling to build this new lineup", Joe Hinrichs, Ford's president of global operations, said during a news conference at McCormick Place ahead of the Chicago Auto Show. It was revealed that it is not just Ford Motors but other automakers are also cutting back on producing the traditional cars in favor of the bigger sports utility vehicles and trucks.

Ford Motor Company confirmed Thursday their decision to invest $1 billion in two Chicago-area factories; creating hundreds of new jobs throughout the region. Ford was the No. 1 producer of vehicles in the United States and the leading exporter of vehicles from the U.S., building almost 2.4mn in 2018. "This investment will further strengthen Ford's SUV market leadership", Hinrichs said.

In less politically motivated statements, it also pointed out that Chicago Assembly is the company's longest continually operating vehicle assembly plant, having started producing Model T's in 1924. Completion of the expansion is expected to occur this spring.

The production of the Explorer ST, the Police Interceptor and the Aviator will add to Ford's position as the top producer of vehicles in the US, with almost 2.4 million built in 2018, the company said.

The all-new Explorer ST features a specially tuned 3.0-liter engine projected to make 400 horsepower and 415 lb. -ft. of torque, with a top track speed of 143 miles per hour.

Ford observed that more and more Americans prefer SUVs and trucks so it is betting on these vehicles to increase the firm's profits.

Based on average fuel costs. Major adjustments will also be made for the final assembly area. The debut of the Aviator Grand Touring, marks the first time the company has combined a twin-turbocharged 3.0-liter V6 engine and advanced electrified hybrid technology.

The all-new Lincoln Aviator will arrive at dealer showrooms in the summer.The Aviator will be available globally, entering the highest volume segment in the USA, the midsize luxury market, and the third-highest volume segment in China.

All three of the all-new vehicles will be available later this year.

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