Earlier this week, Ford Motor Company F CEO Mark Fields announced at an investors conference at the company’s headquarters that all small-car production will move to Mexico over the next two to three years.
This announcement comes just months after Ford revealed that it will build a $1.6 billion plant in Mexico.
Although the new plant will create 2,800 jobs in Mexico, Republican presidential nominee Donald Trump cautioned against the shift.
“When we send out jobs out of Michigan, we’re also sending our tax base,” he said.
Trump commented on the situation's juxtaposition as well.
“It used to be cars were made in Flint and you couldn’t drink the water in Mexico. Now the cars are made in Mexico and you can’t drink the water in Flint.”
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.