By Warner Todd Huston in Brietbart.com -
Just as President Barack Obama’s deputy signed the unpopular Trans Pacific Partnership free-trade deal during an election year, Ford Motor Company has announced it will doubling production capacity at a Mexico factory, instead of enlarging U.S. factories.
The new factory will manufacture hybrid autos with gasoline and electric engines, whose development has been partly funded by U.S. taxpayers via federal research programs.
According to The Wall Street Journal, Ford is planning to build 500,000 vehicles at its new Mexican factory, starting in 2018. That is double Mexico’s 2015 production.
Ford has begun to build a new factory in San Luis Potosí, Mexico, to assemble several models including, a new model meant to rival Toyota’s Prius hybrid vehicle. In turn, U.S.-based plants will focus on light trucks and sport-utility vehicles.
Insiders say Ford will spend $1 billion to build the expansion factory in Mexico. That’s in addition to the $2.5 billion already earmarked for expansion in the neighboring nation.
Ford rival General Motors is planning a $5 billion expansion in Mexico.
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NO new Fords for me. Not now.