Ford Upgrading Ohio Plant; Plans To Add 300 Jobs

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Ford continues to lead the way among U.S. automakers in terms of domestic expansion. Ford Motor Company (NYSE:F) announced today that the company was adding at least 300 new jobs to its engine manufacturing plant in Lima, Ohio following a major upgrade at the facility. The upgrade to the plant provides the necessary infrastructure to produce the new 2.7-liter EcoBoost turbocharged engine for the next-generation Ford F-150 due out in 2015.

Statement from Ford

The company released a statement today announcing the expansion and new jobs at the Lima plant. “Our truck customers have spoken, and we continue to meet their evolving needs by providing another V-6 option,” said Joe Hinrichs, Ford Motor Company (NYSE:F) president of The Americas. “The hardworking team at Lima Engine is thrilled to begin building one of the most technologically advanced engines ever designed for America’s No. 1 truck.”

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EcoBoost engine to be popular option

Ford Motor Company (NYSE:F) expects the innovative EcoBoost engine to be a big seller. The highly efficient engine offers excellent gas mileage while still providing strong performance. The new EcoBoost engine is a twin-turbo 2.7-liter V-6 that is computer-controlled to turn off when the vehicle is not moving in order to save gas.

Ford is anticipating strong sales for its bleeding-edge engine, especially given demand for the first-generation EcoBoost powertrain. More than 57% of Ford Motor Company (NYSE:F) customers ordering a new F-150 pick up have selected either a 3.7-liter V-6 or a 3.5-liter V-6 EcoBoost.

Investors are greeting the news positively, with Ford Motor Company (NYSE:F) shares trading up 27 cents at $15.52 as of 12:08 PM ET today.