Business

Ford to invest US$1 billion to upgrade South Africa operations

Ford Motor Co will invest US$1.05 billion in its South African manufacturing operations including upgrades to expand the production of its Ranger pickup truck, the U.S. automaker said on Tuesday.

Ford logo is pictured at Ford Motor Co plant in Taubate
Ford logo is pictured at Ford Motor Co plant, after the company announced it will close its three plants in the country, in Taubate, Brazil, January 12, 2021. REUTERS/Carla Carniel NO RESALES. NO ARCHIVES

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JOHANNESBURG: Ford Motor Co will invest US$1.05 billion in its South African manufacturing operations including upgrades to expand the production of its Ranger pickup truck, the U.S. automaker said on Tuesday.

The amount includes US$683 million for technology upgrades and new facilities at its plant in Silverton, a suburb of Pretoria, and US$365 million to upgrade tooling at major supplier factories.

The investments aims to increase Ford's installed capacity at the South African plant from 168,000 to 200,000 vehicles, the company said.

(Reporting by Joe Bavier; Editing by Emma Rumney)

Source: Reuters