F Ford Motor Company

By Michael Dabaie

Ford Motor Co. (F) said Wednesday it is expanding its production capacity for battery electric vehicles at a second North American plant.

Ford is targeting investing more than $850 million in the Flat Rock Assembly Plant through 2023, adding a second shift. The plant investment also includes funding to build the next-generation Mustang and is part of a $900 million investment in Ford's operations in southeastern Michigan.

Ford said it is investing approximately $900 million in its southeast Michigan manufacturing footprint and targeting 900 incremental direct new jobs through 2023.

The company also said it will complete its first autonomous vehicles at a new AV manufacturing center in southeast Michigan. Production of Ford's first autonomous vehicles will begin in 2021 for deployment in commercial services.

Ford said it is building its next-generation North American Transit Connect small commercial and passenger van in Mexico, starting in 2021.

Ford shares were down 2.1% to $8.52 Wednesday.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

March 20, 2019 11:27 ET (15:27 GMT)

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