Trump Takes Victory Lap After Ford Cancels $1.6 Billion Mexican Expansion Plan As "Vote Of Confidence" In President-Elect

Tyler Durden's picture

Update: sure enough, here comes Trump's twitter victory lap:

 

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Trump's recent "strong hints" to US-based automakers to keep production within the US are starting be heard loud and clear, and nowhere more so than at Ford, which just hours after observing the beat down Trump gave to competitor GM on Twitter, announced that it is scrapping plans for a new $1.6 billion plant in San Luis Potosi, Mexico after itself coming under criticism by Donald Trump for shifting small-car production south of the border, and announced it would instead invest $700m in a plant expansion in Flat Rock, Michigan.

Mark Fields, Ford’s chief executive officer, announced the plan today at a press conference at the automaker’s factory in Flat Rock, Michigan, south of Detroit. The second largest U.S. automaker builds the Mustang sports car and Lincoln Continental sedan from its Flat Rock plant, which employs more than 3,700 workers according to Bloomberg. Ford idled the factory for a week in October due to declining Mustang sales, which fell 13 percent in the first 11 months of 2016.

The automaker’s CEO Mark Fields told CNN that the move is a "vote of confidence" in President-elect Donald Trump’s pledge to create a pro-business environment. Fields emphasized, however, that he did not negotiate any special deal with Trump.

"We didn't cut a deal with Trump,” he said. “We did it for our business.”

Perhaps, but as Reuters notes, Ford wasted no time to notify Trump of its decision this morning, perhaps before it even went public with the announcement:

Trump had previously slammed Ford on the campaign trail over the automaker’s plan to invest $1.6 billion in Mexico by shifting its North American small-car production south of the border. Ford had emphasized that the move would not affect U.S. jobs because the automaker would be putting new vehicles into the Michigan plants.

But now Ford will instead build the Ford Focus at an existing plant in Mexico and invest $700 million in its plant in Flat Rock, Mich. in an effort to produce more electric and self-driving cars. The automaker has said it plans to build a fully self-driving car by 2021.

"I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers," said Jimmy Settles, United Auto Workers vice president, according to CNN.

And so, it would appear that Trump was right, and won, again.

Curiously, according to CNBC, a high level Ford source said that "Trump had nothing to do with Ford's decision to expand its Michigan plant."

Sure, it was just a bigly coincidence.

We look forward to his victory lap on Twitter in moments.

* * *

From the press release:

FORD ADDING ELECTRIFIED F-150, MUSTANG, TRANSIT BY 2020 IN MAJOR EV PUSH; EXPANDED U.S. PLANT TO ADD 700 JOBS TO MAKE EVS, AUTONOMOUS CARS

Ford today detailed seven of the 13 new global electrified vehicles it plans to introduce in the next five years, including hybrid versions of the iconic F-150 pickup and Mustang in the U.S., a plug-in hybrid Transit Custom van in Europe and a fully electric SUV with an expected range of at least 300 miles for customers globally.

The automaker also announced plans to invest $700 million to expand its Flat Rock Assembly Plant in Michigan into a factory that will build high-tech autonomous and electric vehicles along with the Mustang and Lincoln Continental. The expansion will create 700 direct new jobs.

The moves are part of a $4.5 billion investment in electrified vehicles by 2020, offering customers greater fuel efficiency, capability and power across Ford’s global vehicle lineup. The plans are part of the company’s expansion to be an auto and a mobility company, including leading in electrified and autonomous vehicles and providing new mobility solutions.

“As more and more consumers around the world become interested in electrified vehicles, Ford is committed to being a leader in providing consumers with a broad range of electrified vehicles, services and solutions that make people’s lives better,” said Mark Fields, Ford president and CEO. “Our investments and expanding lineup reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years.”

Ford is focusing its EV plan on its areas of strength – electrifying its most popular, high-volume commercial vehicles, trucks, SUVs and performance vehicles to make them even more capable, productive and fun to drive.

The seven global electrified vehicles announced today include:

  • An all-new fully electric small SUV, coming by 2020, engineered to deliver an estimated range of at least 300 miles, to be built at the Flat Rock plant and sold in North America, Europe and Asia
  • A high-volume autonomous vehicle designed for commercial ride hailing or ride sharing, starting in North America. The hybrid vehicle will debut in 2021 and will be built at the Flat Rock plant
  • A hybrid version of the best-selling F-150 pickup available by 2020 and sold in North America and the Middle East. The F-150 Hybrid, built at Ford’s Dearborn Truck Plant, will offer powerful towing and payload capacity and operate as a mobile generator
  • A hybrid version of the iconic Mustang that will deliver V8 power and even more low-end torque. The Mustang Hybrid, built at the Flat Rock Plant, debuts in 2020 and will be available in the North America to start
  • A Transit Custom plug-in hybrid available in 2019 in Europe engineered to help reduce operating costs in even the most congested streets
  • Two new, pursuit-rated hybrid police vehicles. One of the two new hybrid police vehicles will be built in Chicago, and both will be upfitted with their police gear at Ford’s dedicated police vehicle modification center in Chicago
  • In addition, Ford announces that its global utility lineup will be the company’s first hybrids powered by EcoBoost® rather than naturally aspirated engines, furthering improving performance and fuel economy.

The company also plans to be as aggressive in developing global electrified vehicles services and solutions. These include EV fleet management, route planning and telematics solutions.

Building the Future

To support the new era of vehicles, Ford is adding 700 direct new U.S. jobs and investing $700 million during the next four years, creating the new Manufacturing Innovation Center at its Flat Rock Assembly Plant. Employees there will build the all-new small utility vehicle with extended battery range as well as the fully autonomous vehicle for ride-hailing or ride-sharing – along with the iconic Mustang and Lincoln Continental.

“I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers,” said Jimmy Settles, UAW vice president, National Ford Department. “The men and women of Flat Rock Assembly have shown a great commitment to manufacturing quality products, and we look forward to their continued success with a new generation of high-tech vehicles.”

This incremental investment in Flat Rock Assembly Plant comes from $1.6 billion the company previously had planned to invest in a new plant in Mexico.

Ford today announced it is cancelling plans for the new plant in San Luis Potosi, Mexico. It also announced that, to improve company profitability and ensure the financial as well as commercial success of this vehicle, the next-generation Focus will be built at an existing plant in Hermosillo, Mexico. This will make way for two new iconic products at Michigan Assembly Plant in Wayne, Michigan, where Focus is manufactured today – safeguarding approximately 3,500 U.S. jobs.

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The Mexican peso is understandably unhappy following the news:

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vortmax's picture

STILL not tired of winning! 

AllTimeWhys's picture

The Trump River is too deep to Ford. You have died of dysentery.

The Merovingian's picture

Yes, they should rename the Rio Grande River the Trump River. I totally agree.

Say What Again's picture

Wilbur Ross --

https://en.wikipedia.org/wiki/Wilbur_Ross#Rothschild_Investments

In the late seventies, Ross began twenty-four years at the New York office of Rothschild Inc., where he ran the bankruptcy-restructuring advisory practice. In the eighties, after quickly expanding the reach of Resorts International to Atlantic City, Donald Trump found himself in financial trouble as the real estate market in New York City bottomed-out. His three casinos in Atlantic City were under threat from lenders. It was with the assistance and assurance of Ross, then senior managing director of Rothschild Inc., that Trump was allowed to keep the casinos and rebuild his businesses.[8] In the late nineties, Ross started a $200 million fund at Rothschild to invest in distressed assets. As the U.S. bubble began to burst, he decided he wanted to invest more and advise less. On April Fools’ Day 2000, the 62-year-old banker raised $450 million to plunge into fallen companies.

BaBaBouy's picture

Omaba Gazes Open~mouthed ...

Say What Again's picture

Yes -- that's Rothschild Inc., everyone's favorite group of financial engineers.

The Saint's picture

Stories like this have got to make Obama feel like a real fool.  Of course, he is, but that's despite the point.

Delving Eye's picture

It just gets better and better. Go Trump!

Say What Again's picture

So you guys are OK with Wilbur Ross in the the cabinet?

You guys are OK with the Rothchilds telling Trump what to do?

Wilbur Ross --

https://en.wikipedia.org/wiki/Wilbur_Ross#Rothschild_Investments

Shocker's picture

Great! , We are finally turning this economy around and its not even Jan 20 yet

Layoff List: http://www.dailyjobcuts.com

-

bearwinkle's picture

Maybe Trump will be telling Rothchild what to do!

 

Never One Roach's picture

More Marxist snowflakes melted when they heard the news of Trump's job creation .....

Say What Again's picture

Well Trump is the smartest person in the room.  He is so powerful, that the Rothchilds will buckle under to his threats.  They are weak and have no money.

Go trump

Got The Wrong No's picture

Looks like Soros sent another one trick troll to undermine Trump here at ZH. Fuck off Puke

wren's picture

So far, I've yet to see anyone tell Trump what to do. I may not like his appointees, but I have yet to see them alter his devotion. He is utilizing The 48 Laws of Power masterfully, thus far, for the good of the people.

Never put too much trust in friends, learn how to use your enemies.

Conceal your intentions.

Always say less than necessary.

Court attention at all cost.

Get others to work for you, but always take all the credit.

Make other people come to you, bait them if necessary.

Win through your actions, never through argument.

Infection: avoid the unhappy and the unlucky.

Learn to keep people dependent on you.

Use selective honesty and generosity to disarm your victim.

When asking for help, appeal to people's self-interest, never to their mercy or gratitude

Pose as a friend, act as a spy.

Crush your enemy totally.

Keep others in suspended terror: cultivate an air of unpredictability. (He is doing this with the Hillary camp and her corruption scandals)

Do not commit to anyone.

Play a sucker to catch a sucker - seem dumber than your mark.

Re-create yourself.

Enter action with boldness.

Plan all the way to the end.

Make your accomplishments seem effortless.

Control the options: get others to play with the cards you deal.

Be royal in your own fashoin: Act like a king to be treated like one.

Master the art of timing.

Stir up waters to catch fish.

Strike the shephard and the sheep will scatter.

The list goes on, but he certainly knows the game. If he keeps utilizing these strategies, he will continue to keep his enemies off balance and crush them. If he keeps standing by the people and utilizing these tools, he could very well become the greatest president in US history.

 

Mpizzie's picture

You literally had to beg for a response to your post lol.
No one answered you, after posting repeatedly, because no one cares what you have to say. Stop derailing the thread and people might.

Urban Redneck's picture

FWIW My old bosses on Wall Street don't tell me what to do anymore.  If yours do, you might consider seeking professional help.

Say What Again's picture

I work for the Rothchild group. They pay me to troll ZH and pay for my apartments in Manhatan and Malibu.

Winston Churchill's picture

i told anyone who would listen back in June/July/ that Trump was Red Shield owned.

Out of the frying pan and into the fire.I like Donald personally, but I would never do biz with him again.

CuttingEdge's picture

"Again" implies previous, WC.

I can only claim a rather small, but very esoteric (in hi-fi terms) Trump deal with one degree of separation - a pair of $45k Infinity Reference V speakers back in the 90's for a hotel ballroom a mate supplied him. 

Laddie's picture

I think you need to read Dr MacDonald's piece, Trump is going to do us ALL a LOT of good.

Donald Trump as Zionist
by Kevin MacDonald emeritus professor of psychology at California State University - Long Beach December 26, 2016
"Should this position disturb those of us on the Alt Right who see Trump as a president who would carve out an America First foreign policy, turn back the immigration onslaught, and fashion a nationalist trade policy? I think not, for the following reasons."

greenskeeper carl's picture

This will most likely be a short lived 'feel good' for everyone. Sales are already down, most consumers are tapped out on available credit, and sub prime lending will be the first thing to go in a credit crunch. I point all this out just to say that I don't think there's a whole lot of job growth in the auto industry in the near future, regardless of any of this.

Robert Trip's picture

I agree.

So we "spin our wheels" for a time until Trump gets this economy turned around.

At least American workers will benefit with the jobs being here.

Ex-Oligarch's picture

Won't the company be spending the near-term retooling at this plant?  If so, there will be jobs that won't be dependent on sales for a few years.

SDShack's picture

If 0zer0 had tried something like this, the Ford vehicles would have had taxpayer subsidized windmills mounted to their roofs to power them... "The 0zer0 Clunker"

SDShack's picture

"Omaba Gazes Open~mouthed ...".... Reggie?....Reggie?

One World Mafia's picture

I remember hearing about ties of the Rothschilds to the Ford foundation, so I went looking and found this link:


New World Order Illuminati Ties of the Ford Foundation

http://www.newsofinterest.tv/politics/media_issues/nwo_ties_ford.php


Exerpted from another post I saw last month:

- Director of the National Economic Council is GOLDMAN SACHS CEO Gary Cohn

- Treasury Secretary Mnuchin is Goldman, Bilderberg and even Skull and Bones!!

- Commerce Secretary Wilber Ross is a 23-year veteran of the Rothschilds (and his boss at Bank of Cyprus Josef Ackermann is an official Bilderberg Director)!!

- State Department head Rex Tillerson is anti-nationalist oilman who has been described as "the very definition of a globalist"

- State Department deputy John Bolton is DIRECTOR of the Project for a New American Century and heavily implicated in 911, STILL supports the Iraq War and is calling for war with IRAN.

- Vice-president Pence is globalist. “I encourage your support for Trade Promotion Authority, the Trans-Pacific Partnership, the Trans-Atlantic Trade, and Investment Partnership,"

- National Security Council Richard Haas is OFFICIALLY a boss with the Council of Foreign Relations 

- Chairman of the Council of Economic Advisors Larry Kudlow is pro-NAFTA, pro-TPP globalist

- Adviser Anthony Scaramucci is Council on Foreign Relations

- Adviser James Woolsey the biggest NEOCON and Project for New American Century

- Transitions adviser and donor Peter Thiel is on the Bilderberg Steering Committee

- Transitions adviser Lewis Eisenberg is Goldman Sachs, Trilateral and Bilderberg, plus HANDED OVER NY Port Authority in 2001 (he was implicated in 911 by Alex Jones himself).

- Energy Secretary Rick Perry is a confirmed Bilderberg attendee

- Education Secretary Betsy DeVos.(maiden name Betsy Prince) is the sister of the FOUNDER of Blackwater Worldwide (Blackwater IS THE Military-Industrial Complex).

- CIA director Mike Pompeo a full-on NEOCON who wants to extend the Patriot Act and rip up Iranian nuclear deal, Monsanto shill and wants to kill Edward Snowden

- Transportation Secretary Elaine Chao (worked for both Bush's) is the daughter of James Chao who owns Foremost Maritime Corp (the CIA-run operatives caught trafficking cocaine in 2014). . 

- Superpac Donor Sheldon Adelson is a HUGE Zionist pushing conflict with Iran

- George Soros wrote off a multi-million dollar loan (over $300 million) to Trump in 2008

- Warmonger Henry Kissinger is fully behind Trump, who he says will be "considerable" and remarkable"

 

Today's news can be manufactured to make someone look good.  The background of his cabinet can be verified.

rccalhoun's picture

the downside will be a concerted attempt at $100 oil and 10-25% inflation.

brace yourself for an insane year.

 

Darktarra's picture

He is making America Great Again and not even in office yet!!! 

Never One Roach's picture

Trump has created more full-time jobs in this past month then Soweeto created in 8 years.

NoDebt's picture

And he's not even President yet.

 

BabaLooey's picture

Yup.

It's a giant REVERSE SKATE!

Fuck OFF Soetero - you and all your douchebag supporters.

I love the sharting and farting from all the libby doucheducks on here.

SUCK IT assholes!

Chupacabra-322's picture

Wow. Amazing few weeks. Tremendous Dick Swagger by Trump. As opposed to the Circle Jerk Bukaki Jizz around Obama's mouth. Scum Fuck.

Yukon Cornholius's picture

So does this offset the Israel-first narrative? Or are you just forgetting the Donald's infatuation with Zion? Debt and Israel make America great!

Shemp 4 Victory's picture

Obama will react with additional sanctions on Russia.

The Saint's picture

And a few thousand more regulations on business.

 

BabaLooey's picture

The FIRST thing my liberal asswipe butt hurt Obama/Canks lover said when he heard this news Shemp........

"What were the incentives?"

YOU CANNOT .................FIX.....................STUPID

ILIKEMITTENS's picture

You must have a unisex bathroom that you share. Good luck. Its called valtrex, dude, valtrex. Is your "man" in the service? Sorry, cervix?

BabaLooey's picture

Weak as day old dishwater. Tighten up.

I rent from him as his rate is dirt cheap. I'm not gay like you, shartly assclown. 

Re-read Saul's Rules For Radicals - as you flunked "attack the messenger" - badly.

Come back for more, and I'll give you the business end of my buggy whip.

LawsofPhysics's picture

Ford, the only auto company that did not  require a bailout in 2009...

Good on them.  I believe that the original Henry had a few ideas about The Fed as well...

Chupacabra-322's picture

Fuck Ford. The Foundation has done enough to Socially Engineer the masses & engaged / invested in some vile shit.

1980XLS's picture

Ford took almost $6B

Only difference is theirs came fron the DOE instead of TARP

 

http://www.forbes.com/sites/joannmuller/2012/08/29/automakers-report-car...

 

Here is their cup in hand to congress

http://media.corporate-ir.net/media_files/irol/87/87772/releases/Dec_2_P...

 

 

ToSoft4Truth's picture

You can't reason with them, it won't make them "Feel Good". 

post turtle saver's picture

yep, like most myths the 'Ford didn't take gubbmint money' one has more legs than it should...

everyone forgets Ford lobbying _for_ the bailouts as well, since it would mean that their mutual suppliers with GM / Chrysler etc would go under and kill -all of them-

they also forget that Ford in the same breath asked the gubbmint for a $9B credit line... hmm...

how about the $6B they got in 2009 from the gubbmint to retool their factories?

how about the fact that they lobbied _for_ Cash for Clunkers?

the list goes on and on... bring it Ford lovers, I can do this all day...

DosZap's picture

Ford said they didn't take ANY TARP $ period, and were bragging about it to the world.

DOE/TARP?, WTF is the difference still taxpayer $.

Yukon Cornholius's picture

Just several government loans beforehand. And they still make the worst product out of the Big 3.

Infinite QE's picture

Yes. Ford's The International Jew is a must have in any library.

Uchtdorf's picture

Actually, Ford bundled up every asset in the "Plant & Property" line of their Balance Sheet and leveraged it to the hilt. That was a few years prior to the 2008/9 crash in the industry.