Ford cancels $1.6 billion Mexican car plant. Investing $700 million in Michigan instead.

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    Ford cancels $1.6 billion Mexican car plant. Investing $700 million in Michigan instead. #TrumpEffect

    the Ford Mustangs go through assembly at the Ford Flat Rock Assembly Plant August 20, 2015 in Flat Rock, Michigan.
    Ford cancels plans for $1.6B plant in Mexico

    Ford Motor, which had been bashed by Donald Trump for shipping jobs outside the U.S., announced Tuesday that it will cancel production of a $1.6 billion plant in Mexico, and will instead invest $700 million in Flat Rock, Michigan.

    The U.S. auto giant said it will add 700 direct new jobs in Flat Rock to produce high-tech electrified and autonomous vehicles, plus the Ford Mustang and Lincoln Continental. The new plant will introduce a great capacity and thousands of new cars to the market. Do you fancy having a Ford car from the new factory? Then, you could read this car finance guide to learn how you can get your new model.

    The Ford Company had originally planned to build its Ford Focus in San Luis Potosi, Mexico. The company said it will continue to build its Focus at an existing plant in Hermosillo, Mexico, to improve company profitability.

    Ford Chairman Bill Ford Jr. said he spoke with President-elect Trump on Tuesday morning to tell him of the decision to invest in the U.S. and cancel the Mexico plant, according to Reuters.

    “We’re also encouraged by the pro-growth policies that President-elect Trump and the new Congress have indicated that they will pursue,” Ford President and CEO Mark Fields said in a statement.

    A source told Reuters there were no negotiations between Trump and the company.

    In Twitter posts, Trump claimed credit for Ford’s announcement.

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