The Ford CEO explained why the company decided not to build a new plant in Mexico, Sputnik reported.
Market conditions, not pressure from US President-elect Donald Trump, was behind the Ford motor company’s decision not to build a new production facility in Mexico, Ford CEO Mark Fields said on Tuesday.
"We’ve seen small cars markedly decline…we’re looking at our capacity for demand, and it became very clear that we don’t need this plant and we can use an existing facility in Mexico," Fields said in an interview with CNBC.
Earlier, Ford announced it would invest $700 million and add 700 jobs at its Flat Rock, Michigan plant over the next four years.