According to the Associated Press, Ford will invest $10 million in its Ypsilanti factory to build battery packs, resulting in around 40 new jobs. These battery packs are currently being assembled in Mexico by Delphi. Ford hasn't revealed the identity of the supplier who will be providing the company with advanced lithium-ion battery cells, the report says. Ford will invest $125 million at the company's Sterling Heights plant to build the hybrid transmissions, leading to 130 new jobs. These transmissions are currently being manufactured in Japan. Ford's president of the Americas, Mark Fields, tells AP that talks with the United Auto Workers on wages and productivity helped paved the way for the job creation. He also said that further job creation and investment would depend on how well electric vehicles do in the U.S. The automaker plans on introducing five electric or hybrid vehicles to the country by 2012 and to Europe by 2013. On Friday, Chrysler, also said that it'll be adding new jobs in Detroit; around 1,100 at its factory for the new Jeep Grand Cherokee. Ford stock is trading essentially flat so far on the day, at $11.28 , or up 0.2%. -- Reported by Andrea Tse in New York
NEW YORK ( TheStreet) -- Ford ( F) says it will create 170 jobs in the next two years at two of its plants near Detroit, as the automaker seeks to bring battery-pack manufacturing and hybrid-transmission assembling for its next line of pure electric cars and hybrids to the U.S., a report says.