Ford Invests $400 Million in Missouri Plant


NEW YORK (TheStreet) -- Ford (F) says it will invest $400 million in its Kansas City, Mo. plant where a new vehicle will be built.

Ford said production of the new vehicle will be built after it moves its Ford Escape production to the automaker's Louisville, Ky. plant.
FORD

The $400 million investment will go into installing a new body shop, new tooling and other upgrades.

The automaker says it's committed to retaining 3,750 full-time jobs at the Kansas City plant. This includes the positions required to produce the Ford F-150, which will continue to be built at the facility on a separate line.

"This investment and promise of a new vehicle to be built in Kansas City reinforces Ford's commitment to U.S. manufacturing and American jobs," Mark Fields, Ford's president of The Americas said in a statement.

The new vehicle planned for the plant will be announced at a later date.

Ford said Missouri tax incentives played a role in Ford's decision.

Shares of Ford were up 0.3% to $18.71 in early afternoon trading, as rival General Motors ( GM) fell 0.2% to $38.13. Nissan ( NSANY) was also sliding, down 0.5% to $20.45.

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