Canada passing on $80mill to FoMoCo for new facilities…

September 6, 2008

The Canadian government is handing over to FoMoCo $80 million in a 5 year deal to help secure the automaker in the future market. This money will go towards updating engine facilities at the Essex plant – which currently can only produce V8’s for SUV’s & pick ups – to be more flexible with their powertrain production – to keep up with smaller engine demand.

With the extra engine production, Ford hopes that at least 750 jobs will be kept, or even gained over the current number.

With this dosh, Ford will also create a research centre for fuel efficient engines & engine techniques – which will benefit Ford in the long run. This centre will work on any hybrid vehicles &/or any other alternative powertrains.

This move should prove to be a life saver in the long run if all goes to plan… but that remains to be seen…

Source: Reuters


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