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Ford May Compensate Suppliers for Abandoned Mexico Plant
Ford Motor Co. is discussing compensation for suppliers linked to its $1.6 billion assembly plant in San Luis Potosi, Mexico, that was cancelled last week.
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Ford Motor Co. is discussing compensation for suppliers linked to its $1.6 billion assembly plant in San Luis Potosi, Mexico, that was cancelled last week.
Ford had planned to begin making next-generation Focus small cars in the factory in 2018. But it scrapped the project after repeated criticism from President-elect Donald Trump about shifting production and jobs from the U.S. to Mexico.
Site prep and structural construction had begun on the factory, Americas President Joe Hinrichs tells a conference in Detroit. The company now plans to build the Focus in one of its existing plants in Mexico.
Hinrichs says the move will save the company $500 million. He adds that the financial impact on suppliers won’t be large because most of them are already established in the region and are serving other manufacturing facilities there.
But analysts say Ford’s abrupt decision fosters an atmosphere of unpredictability about other planned factories in Mexico.
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