Ford Motor Company is taking a major step forward in its recovery from the COVID-19 pandemic by raising production at its US plants in anticipation of increased demand for vehicles. The move comes as US auto sales start to recover from the pandemic-induced slump, with Ford expecting to see strong growth in 2021.
The company announced on Tuesday that it will increase production at its US plants by up to 40 percent in the coming months. The move is expected to create thousands of jobs in the country, as Ford looks to capitalize on the gradual recovery of the auto industry.
Ford CEO Jim Hackett said in a statement that the company's plans are “a significant step forward in our recovery from the pandemic and will help us meet the growing demand for our vehicles.”
The automaker has already started to ramp up production at its plants, including its plant in Wayne, Michigan, which has already seen an increase in production of nearly 15 percent since the start of the year. The company has also announced plans to open a new assembly plant in Mexico.
The increase in production reflects a gradual recovery in the auto industry, which was hit hard by the pandemic. US auto sales dropped by nearly 20 percent in 2020, with sales of new vehicles falling to their lowest level in decades.
However, auto sales have started to pick up in recent months, with many analysts expecting strong growth in 2021. Ford's move to increase production is a sign that the company is confident in the recovery of the auto industry.
The company is also taking steps to make sure its vehicles will be competitive in the market. It has announced plans to invest $22 billion in electric and autonomous vehicles in the next four years. The move is expected to help the company stay competitive in the rapidly changing auto industry.
Ford's plans for increased production in the US are a sign of optimism for the auto industry, which has been devastated by the COVID-19 pandemic. The company's move is expected to create thousands of jobs and help the industry recover from the pandemic-induced slump.