The automobile industry is changing at a faster rate, and there are many companies which are trying to survive in this industry now because traditional way of making cars is getting obsolete. Ford who is one of the largest automobile companies in the world recently decided to build a new factory in Michigan for making automobile vehicles. Ford is trying to diversify its focus on building electric and autonomous cars which currently are in huge demand. This new facility will take upto two years to make since it will not be easy to develop and establish machines which will help to create automatic cars. Joe Hinrichs who is the president of Ford’s global operations said that the company would try to use this new facility to build new technology enables electric and self-driving cars which will be useful for customers.
This new facility is part of Ford’s plan to invest its $900 million into reshaping its manufacturing plant in Michigan. Project report shows that this new facility will create 923 jobs by the end of 2023. Currently, every major automobile sector company is trying to shift its focus from creating traditional cars to electric or automatic vehicles. Tesla which is one of the largest company in electric car industry is making a right amount of profit from the last two quarters, and now other companies are also trying to walk on Tesla’s path.
Some experts criticize CEO Jim Hackett for taking deliberate actions to shift the company’s focus into building autonomous cars. Ford has a plan of 2023 in which company will try to sell most of the electric vehicles and increase production of it also. A few months ago Ford announced its partnership with Volkswagen to build electric cars and now it seems like Tesla is undoubtedly going to get some severe competitors in future.