Ford Motor (F)  announced Tuesday that it plans to invest $700 million in a Michigan plant, cancelling plans to invest $1.6 billion in a new plant that had been planned for Mexico. Ford CEO Mark Fields says the decision to cancel the plant in Mexico was "in the best interest in Ford," and that it didn't need the additional capacity in Mexico anymore, due to slowing sales of its Focus. The Focus is currently built in another Mexican plant, which had previously been the subject of criticism from President-elect Trump. Ford's new investment in the U.S. will result in 700 new jobs at its Flat Rock, Mich., plant, which will produce electrified and autonomous vehicles. The automaker confirmed seven of the 13 new EVs it will be producing by 2020, including a hybrid version of its popular F-150 truck. 

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