DETROIT -- In a bid to stop speculation about large-scale investments in Mexico, Ford Motor Co. last week announced plans to renovate three Mexican factories -- but stressed that a decision on a new North American assembly plant hasn't been made.
Ford will upgrade its assembly plants in Cuautitlan and Hermosillo and an engine plant in Chihuahua. But the company did not reveal the location of a new assembly plant that it wants to build in North America.
"We have made no decisions on where it will be located," Mark Fields, Ford president of the Americas, said in a press release. "The key to success will be high quality and low cost, and that certainly can be in the U.S., Canada or Mexico."
The announcement was spurred by the leak of a purported internal Ford document that proposes a $9.2 billion investment in Mexican operations.
The document -- possibly a PowerPoint presentation prepared for senior Ford executives -- outlines plans to expand production of vehicles, engines and transmissions.