Ford Announces $1.5B Investment in Ohio

Ford Motor Co. has announced it will assemble electric commercial vehicles at its Lorain County plant in Avon Lake. According to JobsOhio, this will lead to 1,800 new hourly jobs and $1.5 billion in investment. Additionally, Ford said it would create 90 jobs and invest $100 million between the Lima Engine and Sharonville transmission plants.

Construction on Ford’s Avon Lake plant is expected to begin later this year, according to Gov. Mike DeWine’s press release. Assembly on the commercial electric vehicle is expected to begin in mid-decade.

Ford’s CEO, Jim Farley, has told IndustryWeek that the auto industry’s transition to electric powertrains will generate waves of change, including “very large consolidation.” Many startup EV manufacturers will soon discover that the market isn’t large enough to justify their capital spending or valuations, according to Farley. 6/2/2022