CLEVELAND - Ford Motor Company said it is investing $155 million and adding 60 jobs at its Cleveland operations to build a new fuel-efficient V-6 engine for the 2011 Mustang, which has expected highway fuel efficiency of 30 miles per gallon on the highway and 305 horsepower.

The investment and jobs at Ford's Cleveland Engine Plant No. 1 brings the company's investment in powertrain engineering and facility upgrades in North America to $1.8 billion to support its 2011 vehicle launches - with more to come. The total number of jobs being added as part of these investments is 1,260. The new Mustang engine is one of nine new or upgraded engines or transmissions for 2011 model Ford, Lincoln and Mercury vehicles.

"Ford is absolutely committed to delivering class-leading fuel efficiency with every new vehicle we introduce, and this investment in Cleveland provides further proof," said Bill Russo, director of manufacturing for Ford's powertrain operations.

Cleveland Engine Plant 1 Retooled

Cleveland Engine Plant No. 1's V-6 engine is expected to represent two-thirds of Mustang's volume this calendar year. 

Ford's $155 million investment there includes $121 million in manufacturing investment at the plant and $34 million for launch and engineering. Sixty new jobs have been added to the plant to support the new engine.

"The Cleveland Engine Plant is not only building fuel-efficient engines for some of our most popular Ford products, it's becoming a hub for the future of Ford powertrains," Russo said. "This facility has the flexibility and the expertise to help us meet customer demands for fun, fuel-efficient vehicles, and it represents the future of advanced manufacturing in North America."

Ford's investment at Cleveland Engine Plant is supported by Ford's green partnership with the U.S. Department of Energy. This Ohio plant is one of 11 Ford facilities in the U.S. participating in the Advanced Technology Vehicles Manufacturing Incentives Program initiated by Congress and implemented by the Obama administration. The program is helping to develop advanced technology vehicles and strengthen American manufacturing across the country. This project is also supported by Ford's state and local government partners primarily through training funds.

Nine New or Upgraded Powertrains This Year

Ford is introducing nine new or upgraded powertrains in North America for its 2011 model vehicles, representing $1.8 billion worth of investment in engineering and facilities. Among the nine powertrains are:

• 6.2-liter V-8 gasoline engine for the F-Series Super Duty

• 6.7-liter Power Stroke Diesel for the F-Series Super Duty

• 6R140 heavy-duty TorqShift® automatic transmission for the F-Series Super Duty

• 3.7-liter Ti-VCT V-6 engine for the Mustang

• 5.0-liter Ti-VCT V-8 engine for the Mustang

• Six-speed automatic transmission for the Mustang

The 2011 Mustang is the most technically advanced model. Both V-6 and V-8 models feature Twin Independent Variable Valve Timing (Ti-VCT), double overhead cams, four-valves per-cylinder and free-flowing exhaust systems. Both models are available with six-speed manual or an upgraded 6-speed automatic transmission.