Ford Motor Co. plans to invest $9 billion under a new four-year UAW contract that will result in new vehicles, engines, and transmissions, along with a commitment from Ford to create or retain 8,500 jobs.
The labor deal must still be ratified by union rank-and-file workers.
Under terms of the agreement, Ford has agreed to make a $700 million investment in two new products at Michigan Assembly. The products, which would be added in 2018 and no later than 2020, are expected to be the Ford Ranger and Ford Bronco respectively, reports MLive.com.
The stamping plant would continue to support the Ford Focus and C-Max vehicles until they are moved elsewhere in 2018, reports the Detroit Free Press. The media outlet has published a full list of the upgrades at various plants. About half of the investment would go toward Michigan plants.
Ford would spend $200 million to upgrade the Kansas City Assembly plant that produces the Transit full-size van and F-150 pickup. Another $250 million would go toward upgrades to Dearborn Truck to make the F-150.
View the entire 1,139-page Ford-UAW agreement here.