Ford announces 580 mln USD investment in Argentina

China Economic Net | Dec 2, 2020 at 1:00 AM
  • U.S. automaker Ford on Tuesday announced it will invest 580 million U.S. dollars in Argentina to manufacture the next generation of its Ranger model truck at its plant in the city of General Pacheco.
  • The head of Ford’s Argentine division, Martin Galdeano, made the announcement during a meeting with Argentina’s President Alberto Fernandez, who thanked the company for “thinking of Argentina and for its trust,” according to a statement from the presidency.
  • Ford’s project includes the local development of auto parts, for which Ford will earmark 30 percent of the planned investment, and the modernization of the General Pacheco plant, to export 70 percent of the volume manufactured there.