Ford Motor Co. F announced that it will invest $1.3 billion in its Kentucky Truck Plant for the production of the 2017 Ford F-Series Super Duty truck that will be sold from late 2016. The investment will be used for a new body shop, facility upgrades and retooling to build the truck. The company will also create 2,000 jobs to support the launch of the truck.
Last year, Ford invested $80 million to meet the growing demand for Super Duty trucks and $129 million to support Lincoln MKC production at the Louisville Assembly Plant. The automaker has invested over $1.5 billion in Kentucky and Louisville over the last two years.
Ford manufactures the F-250, F-350, F-450 and F-550 Super Duty pickups and chassis cabs, as well as Ford Expedition and Lincoln Navigator at the Kentucky Truck Plant. The plant, which opened in 1969, currently employs around 4,400 people. It has produced over 5 million Ford F-Series Super Duty trucks to date.
Ford’s Super Duty truck lineup comprises five models, namely, XL, XLT, Lariat, King Ranch and Platinum.
Ford currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include General Motors Co. GM, O'Reilly Automotive Inc. ORLY and Fox Factory Holding Corp FOXF. All three stocks carry a Zacks Rank #2 (Buy).
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