The project will be implemented by the end of 2012, with the funds being used to support the production of a new Ford vehicle. The investment will also be directed towards quality upgrades at the carmaker’s Pacheco production site, where this new model will be manufactured for Latin American markets.
"One of the key elements of our ONE Ford Plan is the development of new global vehicles, offering customers around the world best-in-class safety, quality, fuel efficiency, smart design and value," Mulally said. "Today's investment announcement about bringing a new global vehicle to our operations here speaks about Ford Argentina's important role in this plan."
This new project shows Ford’s high expectations on the possibilities and growth potential of the country and the whole region. The initiative is integrated in Ford’s ONE plan, and includes a long-term expansion strategy for South America and relies on the company’s Argentinean arm to deliver key products for the Latin American markets.
"Our plan is to deliver even more new products and technologies people really want and value in markets around the world – including Argentina," Mulally said. "Ford is celebrating its 97th year in Argentina this year, and we're committed to continue delivering great products for customers here and supporting the communities where we operate."
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