Ford Motors Co. reported it will cancel a planned $1.6 billion factory in Mexico and instead invest $700 million @ a Michigan factory after Trump criticized the Mexico investment plan.
Now the second largest U.S. vehicle company said it would build new electric, hybrid and autonomous vehicles @ the Flat Rock, Michigan plant and add 700 jobs. During his presidential campaign, Trump warned Ford Motors that he would slap hefty tariff taxes on imported Ford vehicles.
Ford shares rose 3.3% to $12.54, while the Mexican Peso fell to touch its weakest level in seven weeks.
Reuters / AA Magnum News 2017.