In a move that has been hailed as visionary by some and Satanic by others, automotive company Ford has declared that they will be opening a new car plant in Mexico. Ford is expected to invest around $3 billion in the new plant, making it the single largest investment ever to be made in Mexican industry. It will also be the largest manufacturing gain that Mexico has had in awhile, with around 4500 new jobs being created by the plant’s presence.

For automotive workers in the United States, the news is quite bad as not only does it mean that no new investment will be happening in that country, but it also means that in all likelihood more layoffs will be coming at some point in the near future on the part of Ford.

The car company has lost approximately $15 billion over the last eight quarters due a number of different factors and it is precisely because of this loss that the company’s executives claim that the new plant is absolutely critical to the long term success of the company in the 21st century. Overall, it is one of the largest examples of outsourcing of jobs that at one point in time were unquestionably to be placed within the borders of the United States.

US giant Ford is to invest $3bn (£1.5bn) in a new car plant in Mexico, the biggest investment in the country’s manufacturing sector.

The move is a blow to American car workers who had hoped the factory would be built in the United States.

Ford has lost more than $15bn (£7.5bn) over the past two years and says the new facility is crucial to its future.

Mexican President Felipe Calderon hailed the announcement as a “turning point” for his country.

(Source) BBC News

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