Boston, MA, 04/03/2014 (usastockreports) – Ford Motor Company (NYSE:F) plans to invest $500 million for developing a new engine line for its F-150 pickup trucks at Ohio. The F-150 truck series is the best-selling vehicle in the pickup truck segment, with a market share of close to 40%. The company will launch the new 2.7 litre six-cylinder EcoBoost engine line in the 2015 series of F-150 pickup trucks. As a result, the 2015 Ford F-150 trucks will come with four engine options- 3.5 litreEcoBoost V6, the new 2.7 litreEcoBoost V6, 5 litre V8 and a 3.5 litreEcoBoost V-6. The new F-150 is expected to give a strong boost to the revenues and increase Ford’s domination in the pickup truck segment.
New F150 to Be Better, Lighter, Stronger
The new model is expected to give Ford an edge over its rivals like General Motors Company (NYSE:GM) and Toyota Motor Corp (ADR) (NYSE:TM). The 2.7 litreEcoBoost engine model of 2015 F-150 trucks will be equipped with “Auto Start-Stop technology”. The technology helps in saving fuel costs by automatically switching off the engine when the vehicle is stopped for small durations. Ford Motor Company (NYSE:F) says that the new F-150 trucks will be lighter and stronger than its predecessors because of the use of military-grade aluminium alloy.
More Jobs at Lima Plant
Ford Motor Company (NYSE:F)’s Lima Engine Plant has been operational since 1957 and currently employs 948 hourly and salaried workers. With the decision to add a new engine line, 300 new jobs will be added to the plant over the coming years. A part of the $500 Million investment will be used to renovate 700K square foot of the factory for machining and assembly work to allow production of the new 2.7 litreEcoBoost engine. Currently, the 3.5 litre and 3.7 litre V6 engines are produced in the facility for a number of models that include Edge Crossover vehicle and the Explorer SUV.