Bryce G. Hoffman / The Detroit News
Ford Motor Co. today announced that it will invest $2.5 billion in its four British facilities over the next five years to produce more environmentally friendly powertrains and vehicles.
The move came after the Dearborn automaker received $550 million in loan guarantees from the British government. That was expected to secure Ford's $689 million application to the European Investment Bank.
"Ford welcomes this positive support from the government," said Ford of Britain Chairman Joe Greenwell. "It greatly assists in delivering Ford's commitment to invest $2.5 billion in new, affordable, volume-produced, low CO2 technologies."
Ford's research-and-development center in Dagenham in Essex will receive funds to pay for the research, development and manufacture of low-carbon technology for both cars and commercial vehicles.
Ford's factory in Bridgend is gearing up to produce a new EcoBoost engine that will debut in the new Ford C-MAX this fall.
Its Southampton plant also will receive new investment, as will its Dagenham factory.