Ford To Invest $3 Bln In Canada For Super Duty Pickups

2024-07-18 2047
(fxcue news) - Automajor Ford Motor Co. announced plans to invest about $3 billion in Canada in its efforts to boost production of F-Series Super Duty pickups, one of its most popular and profitable vehicles. With the investment, Ford will add a third North American assembly plant at the Oakville Assembly Complex in Ontario, Canada, to meet the increasing Ford Pro customer demand, supporting the Ford+ plan for profitable growth. Ford Pro CEO Ted Cannis noted that there is durable demand for Super Duty from Ford Pro customers as spending on infrastructure and related construction activity remains high. Many retail customers have not been able to get their trucks fast enough because of production constraints. The proposed investment will include $2.3 billion to install assembly and integrated stamping operations at Oakville Assembly Complex. When complete, Oakville Assembly Complex will be a fully flexible plant. At the facility, the company will assemble F-Series Super Duty pickups starting in 2026. Ford will add initial capacity for up to 100,000 units of its best-selling F-Series Super Duty trucks, including future multi-energy technology. The proposed Super Duty production expansion would initially secure around 1,800 jobs at Oakville Assembly Complex and will add about 150 jobs at Windsor Engine Complex, which will manufacture more V8 engines for Super Duty. It will also add roughly 70 jobs and additional overtime at U.S. component plants. The company noted that Unifor union-represented employees at Oakville Assembly Complex will return to work in 2026, a full year earlier than previously planned. The investment expands Super Duty production across three plants in North America, including Kentucky Truck Plant and Ohio Assembly Plant, which are operating at full capacity. In the first half of 2024, Kentucky Truck Plant and Ohio Assembly Plant produced more than 200,000 Super Duty trucks. Super Duty holds 58 percent market share in the mining sector, 56 percent in the utility industry, 53 percent in emergency vehicles and 44 percent in construction, based on S&P Global Mobility. Jim Farley, Ford president and CEO, said, "Super Duty is a vital tool for businesses and people around the world and, even with our Kentucky Truck Plant and Ohio Assembly Plant running flat out, we can't meet the demand. This move benefits our customers and supercharges our Ford Pro commercial business. At the same time, we look forward to introducing three-row electric utility vehicles, leveraging our experience in three-row utility vehicles and our learnings as America's No. 2 electric vehicle brand to deliver fantastic, profitable vehicles." At present, Ford's trucks are produced in two F-150 plants in Michigan and Missouri, two Super Duty plants in Kentucky and Ohio, and a Ranger plant in Michigan, directly and indirectly supporting more than 500,000 jobs in America.
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