Automaker Ford Motor Co. (F) plans on investing $500 million to aid in building new hybrids, batteries, and electric vehicles in Michigan.
The company expects to create 1000 new jobs with the investment, much to Detroit’s relief:
Detroit News: Ford Motor Co. on Tuesday outlined plans to invest as much as $500 million to build a new generation of hybrids, plug-in hybrids and batteries in Michigan, a move the company said will create approximately 1,000 new jobs.
The company is asking Michigan lawmakers for tax credits to support the investment.
Ford also will bring battery pack assembly back in-house as the company prepares to launch a new generation of electric cars and trucks.The Dearborn automaker currently buys batteries for its hybrid vehicles from Delphi Corp.