The company added that these actions will provide immediate healthcare benefits to all hourly employees and convert 3,000 temporary employees to permanent full-time status ahead of schedule, according to a June 2 press release.
“Ford is America’s Number 1 employer of hourly autoworkers, and this investment only deepens our commitment to building great new vehicles — from an all-new Mustang to new EVs — right here in the U.S. in partnership with the UAW,” Bill Ford, executive chair of Ford, said in the release. “I am proud that we are investing in the Midwest and taking real action to provide better benefits and working conditions for our workers on the plant floor.”
In addition, the company said it will invest $1 billion over the next five years to improve the workplace, with potential enhancements including better access to healthy food, new EV chargers in plant parking lots and better lighting in parking lots.
The stock closed up 2.5% on June 2 and was up 2.51% in pre-market trading on June 3.
The $3.7 billion investment includes a $2 billion investment and 3,200 union jobs, including the creation of nearly 2,000 jobs in three assembly plants in Michigan to increase production of the all-new F-150 Lightning electric truck to 150,000 per year, produce an all-new Ranger pickup at Michigan Assembly Plant in Wayne and an all-new Mustang coupe at Flat Rock Assembly Plant.
In Ohio, there will be a $1.5 billion investment and 1,800 union jobs to assemble an all-new EV commercial vehicle starting mid-decade, along with an additional 90 jobs and $100 million investment between Lima Engine and Sharonville Transmission plants
And in Missouri, there will be a $95 million investment and 1,100 union jobs for a third shift at Kansas City Assembly Plant to increase production of the Transit, America’s best-selling commercial van, and the all-new E-Transit electric van
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