Ford Reported in Big Mexico Investment

Ford is planning $3bn in Mexico investments, including production of a new subcompact Fiesta model and revamping two plants, according to wire reports. CEO Alan Mulally says the Cuautitlan plant, near Mexico City, will start building the Fiesta in early 2010 for export to the US, according to Reuters. The investment also includes a joint venture with Getrag JV for a transmission plant in the central state of Guanajuato. “Ford is investing $2.4 billion and $600 million is from our suppliers,” says Mulally, according to Reuters.