Sunday, June 1, 2008

Ford's 'Global Car' To Roll Out in Mexico

Ford's 'Global Car' To Roll Out in Mexico

Economy

MEXICO CITY, May 30 -- President Felipe Calderón announced Friday that Ford will build its new fuel-efficient Fiesta "global car" in suburban Mexico City and upgrade two plants here as part of a $3 billion investment, the largest in Mexican history by a foreign manufacturer.

The decision is a major setback for the United Auto Workers union, which has pushed Ford and other manufacturers to invest in U.S. plants. But it was a coup for the Mexican economy after years of losing manufacturing jobs to China and other Asian countries.

Industry analysts have long predicted that Ford would unveil a global car -- a subcompact designed to be easily built and marketed anywhere in the world -- but it was unclear until Friday which country would win the lucrative manufacturing deal. A UAW spokesman did not return calls seeking comment.

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