Ford to invest $3.7 billion for production of EVs, gas-powered vehicles

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Reuters UK

By Ben Klayman and David Shepardson DETROIT/WASHINGTON (Reuters) -Ford Motor Co on Thursday said it will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles. Ford, whose shares were up 2.4% in afternoon trading, said $2.3 billion of the total investment will be spent on EVs, part of the $50 billion in EV spending through 2026 it had previously outlined. Ford officials said the company will receive incentive packages of about $150 million and about $200 million from Michigan and Ohio, respectively. As part of the in…

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