's (Dearborn, MI) new Explorer SUV. Ford said between its own new hires and those of its supplier, approximately1800 jobs will be created to support production of the new vehicle. The automaker said its Chicago Assembly Plant will add 1200 new positions and invest $400 million in the project, which will require parts from seats to chassis modules and add 600 additional jobs at Ford supplier partners in Michigan, Indiana, and Illinois.
In total, Ford said more than 100 companies in 23 states will produce parts and components for the new Explorer, which those companies buying additional parts from hundreds more indirect suppliers. According to the Center for Automotive Research, each automotive job is estimated to generate an additional 10 indirect jobs, so the Explorer could eventually help create up to 12,000 new jobs overall.
The new Explorer, which goes on sale this winter and will also be exported to 90 countries, will boast a 30% increase in fuel economy over the current Explorer in addition to new safety features.
Also, on July 23, 2010 Ford Motor Company said it had turned a profit of $2.6 billion in the second quarter of 2010, marking the fifth consecutive profitable quarter for the carmaker. Ford, the only one of the U.S. Big Three that has not received federal aid money and declared bankruptcy also said it expected to have more cash than debt by the end of 2011.—[email protected]