Steel Markets
Ford Invests $3.7 Billion To Increase EV Manufacturing in Midwest
Written by Laura Miller
June 7, 2022
Ford Motor Co. is investing big to increase electrical vehicle production in the Midwest.
The Dearborn, Mich.-based automaker recently announced $3.7 billion in expenditures to increase manufacturing at plants in Michigan, Ohio, and Missouri.
The funding will support more than 6,200 new union jobs, and nearly 3,000 temporary UAW-Ford workers will be converted into permanent full-time employees, the company said in a joint statement with the United Auto Workers union.
Michigan plants will receive $2 billion in funds. This will increase production of the F-150 Lightning electric truck at the Rouge Electric Vehicle Center in Dearborn to 150,000 trucks per year. The Michigan Assembly Plant in Wayne will begin producing an all-new Ranger pickup, and the Flat Rock Assembly Plant will produce an all-new Mustang coupe. The company will also build a completely new, $35 million packaging facility in Monroe that will begin operations in 2024.
In Ohio, $1.5 billion will go towards assembly of all-new EV commercial vehicle at the Ohio Assembly Plant, and $100 million in funding will be split between the Lima Engine and Sharonville Transmission plants.
Missouri’s Kansas City Assembly Plant will see a $95 million investment to increase manufacturing of the Ford Transit and an all-new E-Transit electric van.
The announcements come a year ahead of 2023 contract negotiations between Ford and the UAW.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Steel Markets
Hot-rolled sources say demand continues to dwindle, prices feel arbitrary
Genuine demand, they stated, will return when the market feels stable again.
FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...