DETROIT -- Ford Motor Co. and Mazda Motor Corp. will invest more than $644 million to upgrade their joint-venture factory in Flat Rock, Mich., Ford said. The AutoAlliance International plant will begin producing the 2005 Ford Mustang in fall 2004. Ford was expected to announce the plan today, Feb. 10.
AutoAlliance assembles the Mazda6 at an annual rate of 65,000. With new equipment and body shop, the plant will be able to produce up to eight models off two platforms, the company said. About 170,000 Mustangs are scheduled to be built annually.