Ford to invest $1 billion in SUV-making Chicago plants
Ford Motor Co. said Thursday it will invest $1 billion in its Chicago assembly and stamping plants and add 500 jobs as it prepares to launch three SUVs that go on sale in 2020. The work to expand the plant, slated to make all-new Ford Explorer, Police Interceptor, and Lincoln Aviator vehicles, starts in March, Ford said. Ford's Chicago Assembly plant, located on the city's south side, is Ford's longest continually operating vehicle assembly plant, having started making Model Ts in 1924, the company said. Shares of Ford fell more than 4% in midday trading Thursday. The stock is down 22% in the past 12 months, which contrasts with gains around 0.5% for the S&P 500 index. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.