MercoPress. South Atlantic News Agency

Ford will invest 250 million USD in Argentina targeting Mercosur

President and Chief Executive Alan Mulally announced the ONE Ford Plan in Buenos Aires

Ford Motor said it will spend 250 million US dollars on its operations in Argentina, where it will start production of a new vehicle for the Mercosur market. President and Chief Executive Alan Mulally announced the plan Wednesday during a meeting in Buenos Aires with Argentina President Cristina Fernandez.

The money will be spent between 2010 and 2012 to improve Ford’s plant in Pacheco, near the capital, where it will make the new vehicle for its Latin America markets.

“One of the key elements of our ONE Ford Plan is the development of new global vehicles, offering customers around the world best-in-class safety, quality, fuel efficiency, smart design and value” said Mulally.

“Today's investment announcement about bringing a new global vehicle to our operations here speaks about Ford Argentina's important role in this plan.“

Through its investments in Argentina and Brazil, Ford is demonstrating its high expectations on the opportunities and growth potential for the Mercosur Region.
The ONE Ford Plan includes a long-term growth strategy for South America and calls for Ford Argentina to play a key role in supplying key products for the Latin American markets.

”Our plan is to deliver even more new products and technologies people really want and value in markets around the world – including Argentina,“ Mulally said.
”Ford is celebrating its 97th year in Argentina this year, and we're committed to continue delivering great products for customers here and supporting the communities where we operate.”

On Tuesday, auto makers reported Argentine new-car sales, exports and production soared in March amid signs that the economy is roaring back to life. Auto production totalled 52,669 vehicles, a 39% gain on the year.

Production during the first quarter was 124,377, up 74% from the same period last year when car makers sharply cut back on production because of the international financial crisis.