Ford To Build Super Duty Trucks at Canada Plant Previously Set To Make EVs

Ford Motor (F) connected Thursday said it was expanding accumulation of its Super Duty pickup trucks to a Canadian works that was antecedently scheduled to beryllium converted to electrical conveyance (EV) manufacturing.

The institution noted that nan caller scheme calls for spending $2.3 cardinal to instal assembly and integrated stamping operations astatine its analyzable successful Oakville, Ontario, and different $700 cardinal to boost accumulation astatine supporting accommodation successful some nan U.S. and Canada.

Earlier this month, Ford said it sold 536,050 vehicles successful nan 2nd quarter, 0.8% higher than nan aforesaid play successful 2023. Combined, Ford motortruck income were up 4.5% to 308,920.

Chief Executive Officer (CEO) Jim Farley explained that request for nan Super Duty trucks is truthful strong, nan 2 plants that presently make them, successful Kentucky and Ohio, can’t support up moreover while moving astatine afloat capacity. The description is aimed astatine building 100,000 much of nan vehicles.

Plant Was Supposed To Be 'Hub of Electric Vehicle Manufacturing'

In April 2023, Ford said it would put 1.8 cardinal Canadian dollars ($1.3 billion) to toggle shape Oakville into a “hub of electrical conveyance manufacturing,” which included making three-row electrical SUVs. However, 3 months agone nan institution delayed nan motorboat until 2027.

In today’s property release, Farley said that nan institution remains committed to building those SUVs.

Shares of Ford roseate 1.8% to $14.74 arsenic of 12:49 p.m. ET Thursday and person risen 20% this year.