The Ford Motor Company announced on Tuesday that it plans to invest $700 million in its Flat Rock Assembly Plant and create about 700 new jobs.
The company also revealed it has canceled plans to build a $1.6 billion plant in Mexico.
The assembly plant in Flat Rock will focus on building autonomous and electric vehicles including a new Mustang Hybrid.
Ford says this is all part of a $4.5 billion investment in electrified vehicles by 2020. Ford plans to introduce 13 new electric vehicles over the next five years.
In addition to the Mustang Hybrid, the company revealed it will also be working on a F-150 Hybrid, a Transit Custom plug-in Hybrid, two new hybrid police vehicles and a fully electric small SUV.
“As more and more consumers around the world become interested in electrified vehicles, Ford is committed to being a leader in providing consumers with a broad range of electrified vehicles, services and solutions that make people’s lives better,” said Mark Fields, Ford president and CEO, in a statement. “Our investments and expanding lineup reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years.”
